Housing Wire

MAY 29, 2024

Earlier this year, New Jersey-based mortgage broker Joe Racamato, president of Silex Financial Group Inc., Racamato is now orienting his team to look closely at clients’ bank statements to find multiple — and often interest-free — installments of a few hundred or thousand dollars paid to the same company on a biweekly or monthly basis.

Mortgage 347

Mortgage Clients Sellers Loan Officers 347

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

Mortgage 431

Mortgage Loan Officers Finance Buyers 431

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. I feel bad trying to convince somebody that it’s a good time to buy and get a mortgage.

Mortgage 375

Mortgage Loan Officers Inventory Retail 375

Housing Wire

MAY 8, 2024

Because of an apparent error made by staff at ICE Mortgage Technology ‘s Surefire customer relationship management (CRM) platform, more than 600,000 emails and texts were sent without permission to real estate agents, business partners and past clients of loan officers around the country.

Clients 332

Clients Real Estate Agent Technology Loan Officers 332

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgage 519

Mortgage Marketing Retail Lending 519

Housing Wire

MAY 29, 2024

Mortgage lender Kind Lending has hired Tammy Richards , who previously held positions at Bank of America , Caliber Home Loans and loanDepot , as its chief operating officer. According to the Nationwide Multistate Licensing System (NMLS), Kind Lending had 87 sponsored loan officers and 23 active branches as of Wednesday.

Lending 265

Lending Loan Officers Retail Legal 265

Housing Wire

FEBRUARY 15, 2024

United Wholesale Mortgage (UWM) has accused California-based brokerage and correspondent lender Mortgage Solutions FCS, dba Client Direct Mortgage, of breaching its early payoff (EPO) provision and its owner, Ramon Walker, of trademark infringement. These mortgages allegedly represent a balance of $124,011.37

Mortgage 285

Mortgage Legal Advertising Loan Officers 285

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 344

Loan Officers Tools Business Clients 344

Housing Wire

NOVEMBER 23, 2021

Guaranteed Rate ’s Shant Banosian has topped his record-setting 2020 in a big way: year-to-date, the loan officer has funded a whopping $2 billion in total origination volume, the lender announced on Tuesday. The figure is believed to be a record for a retail loan originator. billion in origination volume, across 3,551 loans.

Loan Officers 283

Loan Officers Brokerage Retail Clients 283

Housing Wire

FEBRUARY 20, 2024

Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.

Loan Officers 355

Loan Officers Technology Lending Tools 355

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 has wholesale changed over the past 2–3 years?

Mortgage 342

Mortgage Retail Lending Loan Officers 342

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures.

Mortgage 359

Mortgage Loan Officers Retail Finance 359

Housing Wire

OCTOBER 27, 2022

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. United Wholesale Mortgage (UWM) launched the product in August. A year ago at this time, rates averaged 3.14%. Searching for new options.

Mortgage 348

Mortgage Loan Officers Clients Housing Market 348

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage. Before the Federal Reserve raised the federal funds rate by 0.75

Mortgage 400

Mortgage Loan Officers Buyers Inventory 400

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

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 2021. billion in 2021. But more than 80% of Rocket’s volume during those years came from refinancings, data from Inside Mortgage Finance (IMF) showed.

Loan Officers 347

Loan Officers Retail Real Estate Agent Real Estate 347

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 14, 2023

Ravi Patel, a top loan officer and former senior vice president of mortgage lending at Guaranteed Rate , and his team, have moved to UMortgage, according to a statement issued on Monday. “They are currently a beacon of light in a mortgage industry that’s been dim for the last couple years.”

Loan Officers 370

Loan Officers Retail Brokerage Lending 370

Housing Wire

JUNE 8, 2022

Pontiac, Michigan-based lender United Wholesale Mortgage (UWM) Wednesday launched a new platform for independent mortgage brokers to access purchase leads, past clients and real estate agents — a move to entice and retain loan officers in a shrinking mortgage market. Purchase loans grew from 24.9%

Mortgage 299

Mortgage Real Estate Agent Real Estate Clients 299

Housing Wire

SEPTEMBER 12, 2023

Shannon Hoff, a California-based branch manager at American Pacific Mortgage (APM), finds herself both enthusiastic and cautious as she assesses the prospects of the mortgage market in the coming year. “Lenders and loan officers right now are just in survival mode,” Hoff said in an interview.

Loan Officers 392

Loan Officers Investors Mortgage Clients 392

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 338

Mortgage Loan Officers Retail Training 338

Housing Wire

SEPTEMBER 20, 2023

Digital mortgage automation solution provider Floify launched verification of income (VOI) and verification of employment (VOE) waterfall technology that aims to save lenders and mortgage brokers time and reduce costs during the loan origination process. in an $87 million deal in 2021. in an $87 million deal in 2021.

Technology 342

Technology Real Estate Agent Loan Officers Clients 342

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Presented by: FormFree.

Buyers 448

Buyers Mortgage Loan Officers Retail 448

Housing Wire

MARCH 22, 2023

Homebot , a home education portal that keeps people connected to their loan officers and real estate agents, acquired Quo Finance , a mobile app for first-time homebuyers. million in seed funding, led by SignalFire in December 2021 to develop the mobile app. Quo raised $7.2

Finance 302

Finance Real Estate Agent Loan Officers Legal 302

Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. They can go online and understand their FICO score, but mortgage credit scores are different. That’s not a good experience,” Hydrew said.

Loan Officers 432

Loan Officers Clients Tools Technology 432

Housing Wire

APRIL 20, 2021

In the past year, among the many challenges and difficulties brought on by the COVID-19 pandemic, the real estate and mortgage industries enjoyed a wave of success with low interest rates, refinance opportunities and etc. But if you’ve gotten this far I want to ask this question: how good is your real estate or mortgage CRM software?

Real Estate 404

Real Estate Mortgage Loan Officers Advertising 404

Housing Wire

NOVEMBER 16, 2022

By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion in loans, about half of 2021’s $4.4 But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. trillion to $1.7 trillion.

Buyers 398

Buyers Mortgage Sellers Investing 398

Housing Wire

APRIL 3, 2024

mortgage lender United Wholesale Mortgage (UWM) is the target of a class-action-seeking lawsuit alleging it orchestrated a scheme with mortgage brokers to apply excess fees and costs to borrowers. The lawsuit follows Monday’s report from Hunterbrook Media indicating that UWM pressures brokers to send loans its way.

Loan Officers 447

Loan Officers Mortgage Business Retail 447

Housing Wire

JANUARY 24, 2023

California lender New American Funding has partnered with EasyKnock, a New York startup that buys homes and rents them back to sellers, allowing clients to access their home equity through non-traditional means. billion in volume in 2022, a decline of more than 50% from its 2021 production of $30.5 The lender originated $14.9

Tenants 318

Tenants Loan Officers Finance Clients 318

Housing Wire

MARCH 5, 2021

Tension between long-time rivals United Wholesale Mortgage and Rocket Pro TPO , formerly Quicken Loans Mortgage Services , reached a new boiling point after the top wholesale lender in the nation announced it will no longer work with brokers who also work with Rocket Mortgage. “They are dialed in to their industry.

Mortgage 498

Mortgage Marketing Real Estate Agent Loan Officers 498

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. . in 2005, the MBA said.

Mortgage 349

Mortgage Bracketing Loan Officers Investors 349

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

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgage 384

Mortgage Loan Officers Finance Investors 384

Housing Wire

JUNE 1, 2021

The deal will allow Black Knight access to Top of Mind’s brain child, Surefire, a customer relationship management system and marketing automation software for the mortgage lending industry. ” The software boasts an all-in-one connectivity between LOSs, CRM, POSs, lead sources and sales acceleration systems. .

Clients 423

Clients Loan Officers Real Estate Brokerage 423

Housing Wire

JUNE 2, 2022

CrossCountry Mortgage is suing Guild Mortgage for poaching a former Las Vegas branch manager and allegedly convincing her to steal proprietary information, the latest escalation in a brewing legal battle between the retail mortgage lenders. Guild Mortgage did not respond to a request for comment. District Court of Nevada.

Loan Officers 332

Loan Officers Retail Legal Clients 332

Housing Wire

FEBRUARY 5, 2024

Veteran mortgage executive James Seely has sued Guild Mortgage for allegedly failing to pay $750,000 in compensation after terminating his employment for cause by “manufacturing out of whole cloth spurious claims of Mr. Seely not working full time,” according to a recently filed lawsuit. billion in mortgage loans.

Retail 359

Retail Contracts Loan Officers Mortgage 359

Housing Wire

APRIL 21, 2022

As interest rates continue to climb and mortgage applications decline , many in the industry are dreading what’s to come for lenders. Gusmus was selected as a 2021 Women of Influence , which recognizes the outstanding efforts of women in the industry who are driving the housing economy forward.

Mortgage 365

Mortgage Contracts Technology Lending 365