Housing Wire

SEPTEMBER 11, 2023

The New York-based independent bank exceeded its 2022 production volume of $400 million in August, but the end goal is far more ambitious: The company is aiming to produce between $3 billion to $5 billion in origination volume annually. Target buyers for Cliffco include non-traditional buyers seeking investor loans.

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Loan Officers Agents Retail Technology 362

Housing Wire

JUNE 29, 2022

Millennials and Gen Zs make up the largest cohort of potential homebuyers today, the majority of which are first-time buyers bullish to get a foot on the property ladder. As mortgage rates rise, inventory remains low and digital trends accelerate, navigating the changing borrower landscape requires tailored strategies.

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Loan Officers Mortgage Modernization Business 399

Housing Wire

MARCH 10, 2023

California-based lender Guild Mortgage posted a higher profit in 2022 thanks to its increased purchase mortgage market share — and now has its eyes set on acquiring other lenders. In the fourth quarter of 2022, Guild’s purchase recapture was 25% and the company retained servicing rights for 89% of total loans sold during that period.

Business 332

Business Mortgage Loan Officers Retail 332

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

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Business Mortgage Loan Officers Inventory 400

Housing Wire

DECEMBER 29, 2023

“At the end of the day if mortgage rates come down, I don’t just think that’s gonna solve the inventory problem right away,” said Ben Cohen, managing director at Guaranteed Rate. You have all these buyers that have been waiting for rates to come back and now they’re back and all this becomes really competitive again.”

Mortgage 438

Mortgage Loan Officers Inventory Business 438

Housing Wire

MARCH 23, 2023

Buyers continue to feel the pinch from high mortgage rates and still-elevated home prices. Median mortgage payment for conventional loan applicants was $2,117, up from $2,009 in January and from $1,750 in February 2022. But those committed to buying a new home are really committed, LOs said. this year from 6.6% in 2024 and 4.4%

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Mortgage Loan Officers Inventory Buyers 329

Housing Wire

JULY 20, 2023

The mortgage industry continues to rightsize , and On Q Financial is taking it as an opportunity to expand through loan officer recruitment and tapping into its network of homebuilders. Following one major layoff and furlough in 2022, the Arizona-based lender eliminated costs and is positioned to grow revenue, executives said.

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Loan Officers Brokerage Real Estate Lending 231

Housing Wire

FEBRUARY 10, 2023

Combine that with the lack of inventory in New Jersey and bidding wars are back, Kechian said in an interview with HousingWire. Buyers seem like they can’t get a break,” Kechian said. “I I really think they had about three months last year where it was a buyers market in the fourth quarter. in the fourth quarter of 2022.

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Housing Wire

APRIL 26, 2023

Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire. The bottom for 2022 was 240,194.

Mortgage 383

Mortgage Loan Officers New Listings Government 383

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. The closer, the better.

Mortgage 519

Mortgage Marketing Retail Lending 519

Housing Wire

SEPTEMBER 22, 2022

from the beginning of this year, but they may have not peaked, putting pressure on affordability challenges for most prospective buyers as the Federal Reserve vows to tame inflation. months to exhaust the current inventory of existing homes at last month’s sales pace. Mortgage rates have nearly doubled to around 6.5% in 2023. “The

Mortgage 399

Mortgage Loan Officers Buyers Inventory 399

Housing Wire

FEBRUARY 7, 2023

The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022. And many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates.

Mortgage 360

Mortgage Loan Officers Government Buyers 360

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. That’s going to be a new market for me Lonnie Glessner, loan officer at Draper and Kramer Mortgage Corp.

Mortgage 374

Mortgage Loan Officers Inventory Retail 374

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. It’s a two-story housing market in Southern California,” Cohen said. Cohen funded $751.4

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Marketing Mortgage Inventory Loan Officers 310

Housing Wire

AUGUST 23, 2023

That’s a stark contrast to what was expected at the end of 2022, when economists forecast rates to be roughly 5.5% Rates at the 7% or 8% level could spur a reduction in home prices, but current inventory issues have limited this impact. Inventory remains thin. Inventory this past week last year was above 550,000 homes.

Mortgage 355

Mortgage Loan Officers Inventory Housing Market 355

Housing Wire

MAY 3, 2023

I wanted to close before May 1, so I selected a buyer who was already in underwriting. My agent exchanged a few emails with the buyer’s agent over a few minor repair requests, but this was all buttoned up very quickly. She made clear in our first conversation that the commission would only drop to 5% if she also found the buyer.

Agents 387

Agents Real Estate Agent Brokerage Real Estate 387

Housing Wire

MARCH 2, 2023

Lower mortgage rates back in January brought buyers back into the market. Now that rates are moving up, affordability is hindered and making it difficult for potential buyers to act, particularly for repeat buyers with existing mortgages at less than half of current rates,” he said.

Mortgage 429

Mortgage Buyers Loan Officers Marketing 429

Housing Wire

MAY 25, 2023

If we then look at data from the Federal Housing Administration (FHA), there were 2,063 Home Equity Conversion Mortgage (HECM) for Purchase loans endorsed in 2022 — less than 1/10th of 1% of homes sold last year. Few loan officers make the purchase product a main part of their business.

Loan Officers 373

Loan Officers Real Estate Agent Real Estate Finance 373

Housing Wire

DECEMBER 11, 2023

The mortgage rate dip is welcome news for the housing market, but loan originators and industry executives emphasized that rates need to decline further and remain stable to reinvigorate buyers’ demand. It’s too early to tell December figures but we closed about 5% more transactions last month compared to November 2022.

Mortgage 450

Mortgage Buyers Inventory Technology 450

Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. Brown anticipates more consolidation in the industry on the mortgage production side, as “there’s less than one loan being done by a loan officer per month on average,” he said.

Housing Market 409

Housing Market Marketing Insurance Mortgage 409

Housing Wire

JUNE 16, 2022

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. trillion in new loans in 2020 and $3.9 trillion in 2022 and $2.3

Housing Market 414

Housing Market Marketing Loan Officers Mortgage 414

Housing Wire

JULY 28, 2022

As the Federal Reserve announced yet another 75 basis point interest rate hike Wednesday, loan officers and lending executives — already well aware of the news — were looking ahead, questioning whether mortgage rates will spike or dip in the aftermath. through the rest of 2022. There were clear consequences from the last spike.

Housing Market 299

Housing Market Marketing Loan Officers Buyers 299

Appraisal Buzz

OCTOBER 3, 2022

According to their public website, in June 2022, the supply of existing homes for sale would last 3 months. I am in the camp with many that believe the market will continue to feel price pressure, at least until inventory levels begin to return to normal (2019 or early 2020 levels, at least). Why inventory levels matter to appraisers.

Appraisal 370

Appraisal Marketing Real Estate Inventory 370

Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. That is also the case for Chris Gallo, senior loan officer at NJ Lenders Corp. After dropping from $1.2

Business 364

Business Loan Officers Clients Inventory 364

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 In 2022, only 7.6% of purchase loans that Fannie Mae closed were above 95% LTV, according to the Urban Institute.

Loan Officers 328

Loan Officers Insurance Mortgage Real Estate Agent 328

Housing Wire

APRIL 29, 2022

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. With inventory remaining tight and demand still strong, Davis only sees this trend increasing as we get further into spring. Conway, Arkansas. Rochester, New York.

Housing Market 317

Housing Market Marketing Agents Real Estate 317

Housing Wire

DECEMBER 31, 2021

This article is part of our HousingWire 2022 forecast series. After the series wraps early next year, join us on February 8 for the HW+ Virtual 2022 Forecast Event. But many of those elements are fading as the industry heads into 2022. In 2022, refi origination volume is expected to drop by 62% to about $860 billion.

Marketing 414

Marketing Law Government Mortgage 414

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. Fewer buyers in the market also means homebuilders are enticing shoppers with incentives, which negatively affects margins. Though not necessarily to buyers with financing.

Housing Market 399

Housing Market Marketing Brokerage Real Estate 399

Housing Wire

APRIL 20, 2021

More recently, the buzz surrounds bidding wars due to extremely low inventory, purchase over refinance and the fluctuation of mortgage rates. Once again, Google grabbed headlines in March 2021 when they emphasized that the code would cease to exist across its platforms by 2022. Needless to say, the digital world took notice.

Real Estate 404

Real Estate Mortgage Loan Officers Advertising 404

Housing Wire

APRIL 18, 2023

As rates increased in 2022, the California lender laid off nearly 1,000 staff to cut costs and meet shrinking demand in the industry. When rates start to trend down, the company expects to add more loan officers, call center staff and operation staff. Kim: NAF bought Marketplace Home Loans in 2018.

Retail 291

Retail Business Agents Loan Officers 291

Housing Wire

JULY 25, 2022

Local real estate agents, loan officers and appraisers from each city share what characteristics are currently defining their housing markets. 1 housing market for spring 2022, there is no doubt that the housing market in Rapid City is one to watch. In March 2022, the median list price of a home was up 21.4%

Housing Market 315

Housing Market Marketing Real Estate Real Estate Agent 315

Housing Wire

SEPTEMBER 23, 2022

trillion in 2022 and $2.17 While the nation suffers from a severe housing shortage, lower mobility can make housing inventory even tighter and cause home prices to continue escalating.” . “Given the magnitude of the move in rates, we think there could be a downside to current estimates for industry volumes in 2023.”

Housing Market 367

Housing Market Marketing Mortgage Buyers 367

Cornerstone

JANUARY 7, 2022

Now it’s 2022, and both homebuyers and sellers have questions. Housing market predictions 2022: Insight from 5 experts. Here’s what you can expect for 2022, according to the experts: 1. Here’s what you can expect for 2022, according to the experts: 1. Reading Time: 3 minutes. What lies ahead? More sellers should list. “We

Housing Market 52

Housing Market Marketing Sellers Inventory 52

Housing Wire

MAY 24, 2022

Multiple crops per year: Move-up buyers and refinancing. The 2022 inflation market fixed it for us. For starters, there will be fewer of us — loan officers, banks, brokers. There will be more loans than we can efficiently process for years. The builders will have more inventory. Home prices should stabilize.

Mortgage 423

Mortgage Real Estate Agent Business Loan Officers 423

Housing Wire

DECEMBER 15, 2021

Housing inventory remains persistently low, home prices are at all-time highs and affordability is becoming out of reach for more people with every passing day. The same trend is seen in existing-home sales due in large part to a lack of inventory of available homes for sale. Median new-home sales prices rose 17.5%

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Finance Construction Law Inventory 332

Housing Wire

AUGUST 9, 2023

We also sought input from industry experts, lenders and loan officers. 1 when it came to jumbo originations in 2022, with $28.7 Pontiac, Michigan-based United Wholesale Mortgage was the only nonbank on the list, in the ninth position with $7 billion in volume in 2022. billion in 2022. Who’s at the top?

Marketing 303

Marketing Retail Mortgage Investors 303

Housing Wire

JUNE 15, 2022

. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. . The share of mortgage applications for ARMs is still below the historical average between 1990 and 2022 of 12.49% and significantly lower than the peak of 36.6% in 2005, the MBA said.

Mortgage 348

Mortgage Bracketing Loan Officers Investors 348