Housing Wire

JANUARY 22, 2024

Customer intelligence and mortgage tech firm Polly named Troy Coggiola as its chief operating officer amid the company’s effort to scale. He has more than 25 years of mortgage technology and enterprise software experience with his latest stint being chief product officer at Accela , a government tech provider.

Technology 324

Technology Mortgage Loan Officers Clients 324

Housing Wire

JANUARY 19, 2024

Country Club Mortgage , a home lender based in California , has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. 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

JANUARY 19, 2023

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retail lending. The mortgage lender hopes to boost volume in the channel. The lender offers a variety of mortgage products, including conventional, FHA, VA, jumbo, rural development loans.

Retail 344

Retail Mortgage Loan Officers Lending 344

Housing Wire

OCTOBER 9, 2023

A mortgage lender isn’t the first place most people would turn to for yoga, meditation or personal wellness. The app offers users the standard fare you’d expect in a mortgage app from a major fintech lender. The app offers users the standard fare you’d expect in a mortgage app from a major fintech lender.

Loan Officers 413

Loan Officers Mortgage Technology Realtors 413

Housing Wire

OCTOBER 24, 2023

Patton Gade, the top producing loan officer for VA home loans in the U.S. Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage. He’ll join forces with fellow veteran loan originator Jay Bunte in the brokerage firm.

Loan Officers 412

Loan Officers Brokerage Retail Construction 412

Housing Wire

JANUARY 25, 2024

California-headquartered LoanSnap was hit with a temporary order to cease and desist from Connecticut’s Department of Banking for “systemic” unlicensed mortgage loan origination activity. These individuals also received inbound calls from individuals interested in obtaining mortgage loans, the order stated.

Loan Officers 327

Loan Officers Mortgage Finance Lending 327

Housing Wire

NOVEMBER 10, 2022

Top-25 retail lender Movement Mortgage struck a deal to acquire Massachusetts-based retail firm Mortgage Network , multiple sources told HousingWire. . The transaction, confirmed by the companies, is a step to boost Movement’s presence on the East Coast amid shrinking loan origination volumes. Mortgage Network funded $2.5

Retail 370

Retail Mortgage Loan Officers Legal 370

Housing Wire

JANUARY 27, 2023

Top-producing loan officer Dave Medina and his team at the Temecula, California-based branch have left ​​ Fairway Independent Mortgage to join Movement Mortgage. “Outside of just doing mortgages, I want to be part of something bigger and Movement had some opportunities for me to get involved with national coaching.”

Retail 373

Retail Mortgage Loan Officers Brokerage 373

Housing Wire

MARCH 28, 2024

million in full year 2022. The operating model change involved Better pivoting to hiring experienced loan officers on commission-based compensation plans. Previously, the lender had higher fixed-cost components and no commissions for its loan officers. Better posted a GAAP net loss of $59.5

Loan Officers 368

Loan Officers Technology Investing Realtors 368

Housing Wire

JANUARY 3, 2024

Nonbank mortgage lender and servicer Pennymac Financial Services issued pink slips to more than 80 employees in November as it faced tough headwinds in 2023. The WARN Notice shows that the workforce reduction includes 10 loan officers , senior app developers and vice presidents of app development, talent sourcing and sales manager.

Loan Officers 348

Loan Officers Development Investors Finance 348

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. 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.

Mortgage 362

Mortgage Loan Officers Government Buyers 362

Housing Wire

OCTOBER 4, 2022

The shift from a refinance boom to a purchase market will leave some mortgage lenders and loan officers with only two options: “Consolidate or exit the business,” according to ​​Mary Ann McGarry, Guild Mortgage’s chief executive officer. “Think of 2020 and 2021.

Mortgage 404

Mortgage Retail Loan Officers Business 404

Housing Wire

MARCH 30, 2023

New Jersey-based Homebridge Financial Services will lay off 139 employees in June, three months after the acquisition of its retail division by CMG Mortgage, Inc. Homebridge says it has more than 1,600 associates throughout the United States and more than 180 retail branches that brought in $12 billion in origination volume in 2022.

Retail 369

Retail Loan Officers Legal Technology 369

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 10, 2024

Nonbank mortgage lender and servicer Pennymac Financial Services scrapped its plans to hire more than 300 staff in North Carolina due to prolonged periods of elevated interest rates. million into Pennymac Loan Services, its mortgage lending subsidiary, to establish a mortgage fulfillment production center in Cary, North Carolina.

Investing 293

Investing Development Tenants Loan Officers 293

Housing Wire

DECEMBER 1, 2022

Editor’s note: Following publication of this story, HousingWire learned that Guild Mortgage had struck a deal to acquire Inlanta Mortgage. Wisconsin lender Inlanta Mortgage announced plans to shut down next year after laying off 62 employees. million year to date, according to data from mortgage tech platform Modex.

Mortgage 334

Mortgage Loan Officers Buyers Business 334

Housing Wire

SEPTEMBER 24, 2022

Caliber Home Loans , owned by publicly-traded Rithm Capital , issued pink slips to at least 300 employees earlier this week as soaring mortgage rates thin out already-declining origination volume. The lender has made at least four rounds of layoffs this year, multiple sources told HousingWire. Its origination volume dropped 29% to $19.1

Loan Officers 404

Loan Officers Development Mortgage Finance 404

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

NOVEMBER 23, 2021

Chicago-based Interfirst Mortgage Co. 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. Layoffs at the Charlotte office will commence the week of Jan.

Mortgage 353

Mortgage Loan Officers Retail Technology 353

Housing Wire

DECEMBER 27, 2023

Guild Mortgage has an ambitious plan under the leadership of its new CEO, Terry Schmidt. United Wholesale Mortgage , the top lender in the country by volume, claimed just under 8% total market share over the first nine months of 2023. nationally, per Inside Mortgage Finance (IMF) estimates. It won’t be easy. exits and 3.2%

Mortgage 364

Mortgage Retail Lending Sellers 364

Housing Wire

APRIL 16, 2024

As the engines of the housing and mortgage markets continue to sputter due to higher interest rates and fewer buyers, industry innovators are looking for ways to get their company’s wheels off the ground. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. according to the company.

Real Estate Agent 401

Real Estate Agent Loan Officers Real Estate Agents 401

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 362

Loan Officers Lending Advertising Home Improvement 362

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

JULY 18, 2022

new jobs hiring, housing jobs, recruiting for mortgage industry. Based on the headlines, one might assume the mortgage business is a complete disaster. Some mortgage companies will merge to stay afloat, and many others will go under. Recruiting battles for LOs remain fierce, mortgage executives and LOs told HousingWire.

Mortgage 441

Mortgage Brokerage Retail Business 441

Housing Wire

JANUARY 30, 2023

A group of 11 former employees are accusing AmeriSave Mortgage Corp. The group also alleges that the company conducted a defamatory campaign against them after their layoffs in July 2022. It was part of the Atlanta-based mortgage lender’s strategy for developing a retail mortgage sales division. mortgage lenders.

Loan Officers 427

Loan Officers Retail Contracts Mortgage 427

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

NOVEMBER 27, 2023

Mortgage rates have pulled back in recent weeks giving consumers and loan originators some breathing room, but headwinds in the industry are far from over. Piper Sandler expects a drop in prepayment speeds to continue despite the near-term dip in mortgage rates, because very few borrowers have mortgage rates above current levels.

Mortgage 351

Mortgage Investing Government Real Estate 351

Housing Wire

APRIL 1, 2024

In March 2022, reverse mortgage lender and servicer Longbridge Financial announced the launch of its national field sales (NFS) division , appointing reverse mortgage industry veteran Melanie Parks to lead the channel as vice president and national field sales leader. Two years later, the UPB has diminished right.

Loan Officers 325

Loan Officers Training Business Retail 325

Housing Wire

DECEMBER 7, 2022

Industry analysts say they expect loan volume to remain depressed for at least the next two quarters, meaning it will be a long winter for loan originators. The recent declines in mortgage rates brought a glimmer of hope that borrowers might be developing more of a stomach for home loans. this past week.

Mortgage 338

Mortgage Loan Officers Development Housing Market 338

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. In 2023, the bank originated about $2.3

Advertising 361

Advertising Lending Loan Officers Law 361

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. But more than 80% of Rocket’s volume during those years came from refinancings, data from Inside Mortgage Finance (IMF) showed. 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 17, 2024

Did you know that in 2022, both younger and older Baby Boomers made up the largest generation of American homebuyers? They own the home with their name on the title, as with any mortgage, traditional or reverse. This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased!

Finance 418

Finance Real Estate Agent Real Estate Insurance 418

Housing Wire

FEBRUARY 28, 2022

The mortgage industry headed into 2022 after a strong showing in back-to-back years. 2022 still holds great opportunity for the industry but it also signals a pivot point. Pennymac has long served as one of the mortgage industry’s leading partners. 6 wholesale lender. title and appraisal) and other industry experts.

Technology 316

Technology Clients Business Investing 316

Housing Wire

OCTOBER 12, 2022

Sacramento, California-based mortgage lender Summit Funding Inc. plans to make a round of layoffs in late November that will affect 72 employees, according to a document filed with the state’s Employment Development Department. . Todd Scrima, the company’s CEO, founded the mortgage lender in 1995.

Human Resources 352

Human Resources Loan Officers Mortgage Development 352

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

JULY 27, 2022

In mid-2021, most mortgage companies enjoyed strong origination volume and were hiring additional staff in response. But as we begin the third quarter of 2022, the landscape has changed drastically and multiple challenges face the industry. These developments have essentially brought refinance originations to a screeching halt.

Mortgage 333

Mortgage Marketing Lending Business 333