Housing Wire

JANUARY 19, 2024

The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans. Tennessee-based community bank Patriot Bank agreed to pay $1.9

Loan Officers 378

Loan Officers Lending Advertising Home Improvement 378

Housing Wire

JANUARY 25, 2024

Jonathon Haddad, president of Next Door Lending , will replace Katie Sweeney as the chairman and CEO of the Association of Independent Mortgage Experts (AIME). Haddad joined the channel in 2020 at Next Door Lending, where he transitioned from vice president to managing partner and president.

Retail 377

Retail Lending Loan Officers Brokerage 377

Housing Wire

APRIL 14, 2021

economy in March 2020, mortgage lenders had to be nimble in a variety of areas. Prior to integrating FactCheck, the lender used an Excel spreadsheet that the underwriter and or loan officer would have to key information into. Citizens fully implemented FactCheck on September 1, 2020. When COVID-19 first rocked the U.S.

Lending 230

Lending Loan Officers Mortgage Business 230

Housing Wire

MARCH 25, 2024

It may be counterintuitive, but loan officer Scott Betley, a 32-year-old TikTok sensation , says he isn’t worried about a potential U.S. Betley, who has more than a decade of experience helping first-time and move-up buyers, joined NFM Lending as a loan officer in 2021. ban of the short-form video app.

Loan Officers 361

Loan Officers Tools Business Clients 361

Housing Wire

NOVEMBER 2, 2020

As a premier provider of innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing, Black Knight is transforming the housing finance industry. The post Simplify complex lending processes with powerful analytics appeared first on HousingWire.

Lending 386

Lending Valuation Clients Tools 386

Housing Wire

SEPTEMBER 15, 2023

The company originates and markets its mortgage lending services to Anywhere’s real estate brokerage and relocation subsidiaries. In addition, the company has requested the return of commissions paid for loans that were originated but subsequently recaptured. Gifoli served as a loan officer from May 2021 to October 2021.

Loan Officers 379

Loan Officers Legal Real Estate Lending 379

Housing Wire

FEBRUARY 24, 2021

Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors in all things related to mortgage, insurance, moving, renovating and new home transitioning.

Real Estate Agent 289

Real Estate Agent Real Estate Agents Loan Officers 289

Housing Wire

DECEMBER 11, 2023

Loan discounts — known as pricing exceptions — is when a lender makes exceptions to its established credit standards. fair lending laws has been on regulators’ radar in recent years. The CFPB has been tightening its screws on fair lending practices. Its findings showed that mortgage lenders violated U.S.

Mortgage 418

Mortgage Lending Law Loan Officers 418

Housing Wire

OCTOBER 12, 2021

The home lending industry has a massive opportunity to digitalize to create efficiencies and to deliver a simpler end-to-end user experience hat would benefit both borrowers and servicers. Digitalization in the home lending industry does not always require companies to entirely invent new technology solutions. However, it’s important.

Lending 320

Lending Technology Investing Loan Officers 320

Housing Wire

DECEMBER 21, 2021

If you take the temperature of how loan officers are feeling ahead of the holiday season, the scale would likely read “uneasy.” According to Fahad Janvekar, a loan officer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry.

Loan Officers 433

Loan Officers Retail Business Mortgage 433

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. These worries are now showing signs of alleviating , though the virus is resurgent.

Mortgage 464

Mortgage Lending Government Loan Officers 464

Housing Wire

AUGUST 1, 2023

When the Federal Reserve slashed interest rates to zero on March 15, 2020 and set off an extraordinary real estate boom, Rocket Mortgage was ready. billion in profit in 2020 and $6.1 billion in profit in 2020 and $6.1 Its parent Rocket Companies rode the wave to a stunning $9.4 billion in 2021. billion in 2021.

Loan Officers 358

Loan Officers Retail Real Estate Agent Real Estate 358

Housing Wire

OCTOBER 10, 2023

For example, managers allegedly asked loan officers to select non-Hispanic white options regardless of whether that was accurate or not. However, the CFPB said it found 51 errors in an initial review of 159 files in Freedom’s 2020 submission and asked the company to correct these inaccuracies. Freedom had to pay a $1.75

Brokerage 388

Brokerage Realty Real Estate Loan Officers 388

Housing Wire

APRIL 27, 2023

“I’ve always been passionate about helping loan officers grow their business to serve more families in our communities. ” With over 21 years in finance and mortgage lending roles, Yeager’s experience spans investment banking, residential retail mortgage, and private mortgage lending.

Loan Officers 325

Loan Officers Retail Lending Investing 325

Housing Wire

JANUARY 12, 2022

Chicago-based Guaranteed Rate will discontinue its third-party wholesale channel, Stearns Wholesale Lending , just one year after it acquired the multichannel lender. increase compared to 2020, according to Inside Mortgage Finance. The figure is believed to be a record for a retail loan originator.

Retail 382

Retail Loan Officers Best Value Business 382

Housing Wire

APRIL 9, 2024

The true cost of redlining Lenders need to carefully evaluate their lending strategies to ensure that they are not unintentionally practicing redlining by neglecting MMCT and LMI neighborhoods, or they may face millions in penalties. From 2020 to 2030, the Urban Institute projects 8.5 million net new households.

Modernization 329

Modernization Lending Legal Legal Fees 329

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. In 2020 and 2021 when refinances were booming, we saw every lender thriving.

Mortgage 354

Mortgage Retail Lending Loan Officers 354

Housing Wire

AUGUST 22, 2022

Kudos to the Loan Officers who have found a way to transition from the refinance boom of 2020 — 2021 and into the purchase market of 2022. Brush up on your company’s lending guidelines or dive into market conditions and economic data that drives your market. To the Loan Officers still standing – I salute you.

Loan Officers 362

Loan Officers Lending Marketing Real Estate 362

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend.

Mortgage 519

Mortgage Marketing Retail Lending 519

Housing Wire

SEPTEMBER 12, 2023

“Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. About 20 loan officers under her leadership produced $116 million in mortgages over the last 12 months, a drop from $223 million in 2022, according to the mortgage tech platform Modex. . When will the market turn?

Loan Officers 393

Loan Officers Investors Mortgage Clients 393

Housing Wire

OCTOBER 6, 2021

In 2020, non-QM experienced a liquidity crunch, while agency lending experienced record volumes and heavy margins within that volume. Non-QM is helping lenders capture more volume, keep their staff busy and generate a higher margin on loan production. Then the volume will follow,” he said.

Lending 270

Lending Loan Officers Business Marketing 270

Housing Wire

MAY 25, 2022

Each pod has about 15 employees consisting of loan officers, processors, closers, underwriters, supervisors, and funders, according to multiple employees. ” Loan officers, who are 100% commission based at Keller Mortgage, were not part of the layoffs, according to multiple employees. . billion this year.

Mortgage 389

Mortgage Loan Officers Retail Training 389

Housing Wire

JUNE 6, 2022

By some estimates, origination volume will fall in 2022 to about $2 trillion, about half the volume from the record-breaking years of 2021 and 2020. Wells Fargo , one of the nation’s largest banks, had at least 114 layoffs in its home lending business following a drop in revenue in that division in the first quarter of 2022.

Mortgage 412

Mortgage Loan Officers Lending Human Resources 412

Housing Wire

JULY 27, 2022

million consent order, stemming from a referral the CFPB made in November 2020. a subsidiary of Warren Buffet’s Berkshire Hathaway , discriminated in its marketing outreach, failed to hire minority loan officers, avoided making loans or locating offices in minority areas and sent racist internal emails.

Loan Officers 393

Loan Officers Mortgage Law Contracts 393

Housing Wire

JULY 16, 2021

Glenn Sanford’s eXp World Holdings announced Thursday a mortgage joint venture with Glenn Stearns’s Kind Lending , called Success Lending. The company will be headquartered in Santa Ana, California, Stearns said, home of Kind Lending. The second big mortgage joint venture announcement this week is a meeting of the Glenns.

Mortgage 389

Mortgage Lending Brokerage Agents 389

Housing Wire

MARCH 25, 2021

The capital raise follows a $5 million Series A funding round in June 2020. In short, their AI platform, which is built on aggregated loan data from its network, allows loan officers, processors and underwriters to offload manual, arduous tasks. Clients include Credit Union of Colorado , Texas Lending and JMAC Lending.

Mortgage 385

Mortgage Lending Technology Loan Officers 385

Housing Wire

NOVEMBER 3, 2021

The brokerage on Wednesday also announced that the launch of its residential lending joint venture Success Lending with Kind Lending, LLC has been approved in Colorado, Illinois and Tennessee. by transaction volume in 2020 with $72.2 The brokerage was the fourth-largest in the U.S.

Brokerage 321

Brokerage Lending Realty Agents 321

Housing Wire

MARCH 1, 2021

Fred Bolstad, executive vice president of retail lending at U.S. Bolstad will be joined on the panel by Dave Vermillion , founder and CEO of Mortgage Champions , and Lisa Patterson, chief originations officer at Homepoint. He leads both retail sales and operations, a channel that originated over $47 billion in 2020.

Retail 386

Retail Lending Loan Officers Technology 386

Housing Wire

JANUARY 14, 2022

Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. “The area of focus for us right now is hiring LOs,” Lind said.

Lending 330

Lending Loan Officers Real Estate Mortgage 330

Housing Wire

NOVEMBER 1, 2023

Jeff Walton, CEO and co-founder of mortgage data analytics company InGenius, which provides loan-officer data to IMBs for recruiting purposes, said it’s going to be a “tough time through winter.” ” He added that the hope is we see some improvement in the spring or summer, “but it’s anyone’s guess.” “I trillion to $1.64

Mortgage 432

Mortgage Loan Officers Finance Buyers 432

Housing Wire

JANUARY 24, 2023

About a quarter of American homeowners are unable to access the equity in their homes because of strict lending standards, and EasyKnock said the partnership will “improve housing stability for our mutual customers, providing them liquidity, flexibility and control in their finances.” Licensed in Washington, D.C.

Tenants 335

Tenants Loan Officers Finance Clients 335

Housing Wire

JANUARY 27, 2021

Roostify, which powers the digital mortgage platforms of JPMorgan Chase , TD Bank , Guild Mortgage , HSBC Bank USA and more, allows different lending parties to bring in data and information from online sources that then tailors the homebuying process. Many loan officers who may not have in the past sought to engage with customers digitally.

Lending 341

Lending Technology Loan Officers Investors 341

Housing Wire

JANUARY 31, 2022

The nonbank mortgage lender is expanding its consumer direct lending business while some competitors are laying off employees with the expectation that the channel cools down with higher mortgage rates. PennyMac is growing fast with its consumer direct lending business. California-based PennyMac Financial Services will invest $3.9

Business 299

Business Lending Loan Officers Mortgage 299

Housing Wire

MARCH 16, 2022

As part of the merger, Jim Black, the founder of All Cal, will become chief lending officer of InstaMortgage. Black, a licensed mortgage loan officer and broker, will also lead product development, tech partnerships and sales growth. Terms of the deal, which was announced on Tuesday, were not disclosed.

Retail 368

Retail Loan Officers Brokerage Technology 368

Housing Wire

NOVEMBER 23, 2021

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 365

Mortgage Loan Officers Retail Technology 365

Housing Wire

OCTOBER 11, 2021

According to FHCCI, out of the 2,250 mortgage loans made by the bank from 2019 to 2020, a measly 37 were to Black borrowers across the entire Indianapolis market. Furthermore, the fair housing organization concluded by way of an in-person test that loan officers from Old National treated Black testers less favorably than white testers.

Lending 395

Lending Loan Officers Law Mortgage 395

Housing Wire

MARCH 8, 2021

For many in the housing industry, the events of 2020 accelerated tech adoption. First, mortgage lending is highly volatile. We expect 2020 – 2021 to be the sixth in the series. It also makes it difficult for lending teams to staff appropriately for volume fluctuations. Take lead management, for instance.

Technology 321

Technology Lending Loan Officers Development 321