Housing Wire

JANUARY 19, 2024

“We are proud of our record and strongly deny that Patriot Bank ever avoided originating home mortgage loans in Black and Hispanic areas of the Memphis market.” The bank claims that Patriot ranked 14th out of 482 lenders in making mortgage loans in minority areas of Memphis in 2021 and 15th out of 534 lenders in 2022.

Loan Officers 362

Loan Officers Lending Advertising Home Improvement 362

Housing Wire

FEBRUARY 6, 2024

The complaint alleges that, from 2017 through 2021, FNB failed to provide mortgage services to predominantly Black and Hispanic neighborhoods in Charlotte and Winston-Salem, North Carolina. In addition, the bank discouraged these customers from obtaining home loans, according to the complaint.

Advertising 361

Advertising Lending Loan Officers Law 361

Housing Wire

JANUARY 25, 2024

Connecticut Banking Commissioner Jorge Perez alleged that LoanSnap violated the Truth in Lending Act (TILA) and Fair Credit Reporting Act (FCRA). The bulk of the origination work was performed by unlicensed LOs, generally titled as “sales development representatives” or “call center representatives,” according to commissioner Perez.

Loan Officers 327

Loan Officers Mortgage Finance Lending 327

Housing Wire

JANUARY 19, 2023

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retail lending. The lender offers a variety of mortgage products, including conventional, FHA, VA, jumbo, rural development loans. million in 2021, origination volume dropped by more than 53.8%

Retail 344

Retail Mortgage Loan Officers Lending 344

Housing Wire

AUGUST 30, 2021

million to create a loan subsidy fund for residents of predominantly Black and Hispanic neighborhoods in the Houston area, $750,000 for development of community partnerships to provide services that increase access to residential mortgage credit in those neighborhoods. Specifically, Cadence will provide $4.17

Lending 378

Lending Loan Officers Advertising Development 378

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. The email explained that the last day to register a loan is January 12, while the last day for closing a transaction is February 28.

Retail 381

Retail Loan Officers Best Value Business 381

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 409

Mortgage Loan Officers Lending Human Resources 409

Housing Wire

AUGUST 1, 2023

The Detroit-based lender’s unmatched combination of name recognition, digital infrastructure and consumer technology enabled it to originate more than $670 billion in mortgages in 2020 and 2021, smashing records in the process. billion in 2021. Its parent Rocket Companies rode the wave to a stunning $9.4

Loan Officers 347

Loan Officers Retail Real Estate Agent Real Estate 347

Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing.

Loan Officers 451

Loan Officers Lending Real Estate Brokerage 451

Housing Wire

OCTOBER 1, 2022

The complaint filed in federal court on Wednesday alleges that from at least 2015 to 2021, Lakeland failed to provide mortgage lending services to Black and Hispanic neighborhoods in Newark. Federal officials said similar banks generated five times as many loan applications from prospective Black and Latino home buyers as Lakeland.

Law 371

Law Loan Officers Lending Advertising 371

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 342

Mortgage Retail Lending Loan Officers 342

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

JUNE 2, 2022

The agreement resolves a complaint the NCRC filed in October 2021 with the Department of Housing and Urban Development. NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021.

Mortgage 361

Mortgage Training Loan Officers Lending 361

Housing Wire

JANUARY 19, 2024

6, 2024,” Sherry Carson, human resources generalist at Country Club Mortgage, wrote in a letter sent to the Employment Development Department in California in early December. Job cuts include the leadership – the president and CEO, the finance manager and the credit risk officer. More than 50 mortgage loan officers were let go.

Human Resources 378

Human Resources Mortgage Loan Officers Finance 378

Housing Wire

JUNE 10, 2022

Mortgage lender and servicer Planet Home Lending also named Kathryn Edelen as regional vice president of its sales division this week. RE/MAX and Motto were having trouble hiring experienced processors, so about four years ago they bought wemlo, which has a platform connecting mortgage brokers and loan originators to a processing network.

Marketing 359

Marketing Real Estate Agent Lending Real Estate 359

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. Magazine’s list of the 5,000 fastest growing companies in America in 2021.

Retail 351

Retail Loan Officers Brokerage Technology 351

Housing Wire

JULY 12, 2023

Pennington’s departure comes a few months after Brady Yeager , a mortgage executive with over 21 years in finance and mortgage lending roles, joined Movement as national sales director. Schoolfield and Shelton joined Movement in 2012, were promoted as divisional leaders in February 2021, and landed at Summit in July.

Retail 367

Retail Development Finance Lending 367

Housing Wire

NOVEMBER 10, 2022

It affected at least 50% of the staff, positions in operations and loan officers, according to multiple former employees. Of the total employees, 428 are active loan officers, according to mortgage software company Modex. A massive job cut. Those jobs started to become offshore starting February.”. Not much better.

Mortgage 358

Mortgage Loan Officers Lending Business 358

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. The brokers were in agreement that recruiting talent and maintaining strong partnerships will be key to not only brand development, but a lasting foundation that will continue post-pandemic. “So

Retail 364

Retail Mortgage Loan Officers Marketing 364

Housing Wire

MAY 2, 2022

issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more than half of Interfirst’s entire staff. Some mortgage lenders reduced their workforce in the second half of 2021 and are now implementing new layoff rounds, such as Interfirst and Better.com.

Human Resources 347

Human Resources Loan Officers Retail Training 347

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 392

Loan Officers Investors Mortgage Clients 392

Housing Wire

MAY 19, 2022

If there’s a bet to be made on the future of the non-agency lending space, it’s that the adjustable-rate mortgage (ARM) will become far more popular this year as purchase mortgages increasingly dominate a housing market pivoting to an up-rate environment. There’s a lot of different reasons why someone falls outside the agency loans.

Loan Officers 440

Loan Officers Lending Mortgage Housing Market 440

Housing Wire

SEPTEMBER 30, 2021

Borrowers, loan officers, and the corresponding processors and underwriters are often working on entirely different systems. The platform is loan origination system-agnostic and is designed to deliver value to both borrowers and lenders–”from the point of thought of buying a house to the point of owning a home.” .

Loan Officers 284

Loan Officers Architecture Real Estate Agent Clients 284

Housing Wire

MARCH 8, 2021

Despite the increased pace, the industry as a whole still has room for continued tech development and usage. HousingWire: Why do you feel it is important to continually develop and use new technologies? Renata Sheyner : Two key industry factors drive the need for continual use and development of new technologies.

Technology 306

Technology Lending Loan Officers Development 306

Housing Wire

AUGUST 31, 2020

Digital lender Beeline plans to hire over 300 new employees total by September 2021 – with over 100 new positions opening in Charlotte, North Carolina and Providence, Rhode Island, the company said Monday. The company has developed an alternative to what is traditionally know as a loan officer role.

Loan Officers 290

Loan Officers Development Real Estate Technology 290

Housing Wire

APRIL 19, 2022

Bank of America will pay a penalty smaller than the average down payment on a Fannie Mae -backed mortgage, after one of its mortgage loan officers allegedly violated the Fair Housing Act. The agreement arose from a complaint that two Napa, California residents filed with HUD in October 2021. As of 2021 the division had just 534.

Loan Officers 354

Loan Officers Mortgage Government Development 354

Housing Wire

NOVEMBER 2, 2023

There is also growing demand for non-QM products from a banking sector that is taking note, presenting new opportunities where some banks see the need to sell loans they would traditionally hold as portfolio products. with 85% owned by individual investors and LLCs based on 2021 U.S. HW: What are the strengths of the non-QM sector?

Investors 373

Investors Real Estate Lending Loan Officers 373

Housing Wire

SEPTEMBER 28, 2023

So, we’re not little, but we’re not big, like some of these companies with 500 developers. We have a development team and so we have software developers, system analysts, business analysts, quality assurance testers, and people that manage deployments. We have smaller teams, but they’re very effective.

Technology 382

Technology Loan Officers Lending Business 382

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 353

Mortgage Loan Officers Retail Technology 353

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

Housing Market 374

Housing Market Marketing Contracts Finance 374

Housing Wire

MARCH 23, 2022

As the housing market continues to move from last year’s refinance boom, lenders’ ability to identify customers and maintain consumer relationships has become more important than ever in not only securing loans but also ensuring they make it to close. Homebuyers often search for financing online before engaging a Realtor.

Finance 257

Finance Loan Officers Lending Housing Market 257

Housing Wire

DECEMBER 16, 2021

In November, Interfirst issued pink slips to hundreds of non-commissioned loan officers at its call centers in Charlotte, North Carolina and Rosemont, Illinois, according to WARN notices in both states. Clients upload all documents into their loan origination system directly to reduce/eliminate operational staff.

Mortgage 338

Mortgage Loan Officers Retail Training 338

Housing Wire

JULY 1, 2021

of Black Americans bought or own their home as of the first quarter of 2021 — against 73.8% The CFPB found that lenders engaged in deceptive business practices, including violations of the Truth in Lending Act and the Equal Credit Opportunity Act, and provided inaccurate data on mortgage loans. of white Americans.

Loan Officers 475

Loan Officers Realtors Open Houses Law 475

Housing Wire

FEBRUARY 11, 2022

Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. trillion in 2021. trillion in 2022, while refinance origination will dip by 62% to $860 billion from $2.26

Marketing 381

Marketing Real Estate Agent Loan Officers Advertising 381

Housing Wire

SEPTEMBER 2, 2020

The company is hiring for positions with multiple experience levels including loan officers, mortgage underwriters and loan processors. Mr. Cooper is also looking for potential Home Advisors, a company curated hybrid role that focuses on servicing customer loans and originating mortgage products.

Training 355

Training Loan Officers Development Mortgage 355

Housing Wire

JULY 27, 2022

In mid-2021, most mortgage companies enjoyed strong origination volume and were hiring additional staff in response. These developments have essentially brought refinance originations to a screeching halt. What a difference a year makes. Inspiration from manufacturing.

Mortgage 333

Mortgage Marketing Lending Business 333

Housing Wire

FEBRUARY 8, 2022

in early 2021 as part of a larger plan to expand its origination reach beyond California — with the goal of creating a national lending footprint. . That plan is now in full motion and, if successful, will double the lender’s origination volume this year, compared to 2021 — most of it in the non-QM space.

Marketing 336

Marketing Retail Lending Mortgage 336