Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. It’s also what keeps Andrew Marquis, regional vice president at CrossCountry Mortgage and Scotsman Guide ’s seventh top LO, up at night, especially as he sees more buyers entering the market.

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Inventory Marketing Business Buyers 317

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. In addition, the credit rating agency expects mortgage rates to move even higher in 2023 and home prices to decline by up to 5%. “We

Housing Market 410

Housing Market Marketing Insurance Mortgage 410

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 366

Business Loan Officers Clients Inventory 366

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. It’s positive news for an industry that has recently dealt with a lackluster amount of inventory.

Renovations 376

Renovations Realtors Construction Mortgage 376

Housing Wire

FEBRUARY 10, 2023

Beret Kechian, loanDepot ’s top producer and branch manager, is joining a slew of mortgage loan originators who are cautiously optimistic about the mortgage landscape in 2023. Combine that with the lack of inventory in New Jersey and bidding wars are back, Kechian said in an interview with HousingWire. “I

Marketing 349

Marketing Inventory Loan Officers Buyers 349

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. and 2024 at 6%.

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Loan Officers Investors Mortgage Clients 392

Housing Wire

JUNE 16, 2022

neighborhood, housing market, Fall, homes, new house sales, forbearance. 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.

Housing Market 414

Housing Market Marketing Loan Officers Mortgage 414

Housing Wire

JUNE 1, 2023

The private-label and agency mortgage-backed securities (MBS) markets , the primary sources of liquidity for many mortgage lenders, are taking a beating so far this year. That dour performance mirrors what’s happening in the primary mortgage market — where origination volume is down drastically year to date in 2023.

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Real Estate Mortgage Marketing Inventory 331

Housing Wire

MAY 22, 2024

Department of Housing and Urban Development (HUD), the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program saw its share of total HECM endorsements in 2023 rise to its highest level since 2019. The inventory is so low, so people are wanting to figure out how they can move into a home.” That’s not saying all that much.

Mortgage 332

Mortgage Loan Officers Lending Business 332

Housing Wire

MARCH 31, 2022

And several loan officers who spoke to HousingWire this week said they had clients lock rates in the 5.1% The central bank has signaled that it will raise interest rates another six times this year and several more in 2023 to control inflation, which reached the highest level in 40 years in February, at 7.9%.

Supply Chain 506

Supply Chain Mortgage Inventory Loan Officers 506

Housing Wire

APRIL 18, 2023

Since launching as a call center in 2003, the California lender has expanded into the outside distributed retail model with a target on the purchase mortgage market, serviced its own loans and developed its tech stack in-house. Now that the market has turned, do you see any challenges for your purchase call center agents ?

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Retail Business Agents Loan Officers 293

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. 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.

Mortgage 438

Mortgage Loan Officers Inventory Business 438

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. Meanwhile, the peak for 2023 so far is 472,680.

Mortgage 383

Mortgage Loan Officers New Listings Government 383

Housing Wire

JULY 25, 2023

HW: What are the common misconceptions surrounding growth in this market? Loan officers — myself included — need to strengthen their mindset. In today’s market, it is very easy to have a weak mindset. MW: As far as the inventory levels go, this is something that I’ve been focusing on and specializing in for years.

Real Estate Agent 248

Real Estate Agent Mortgage Real Estate Training 248

Housing Wire

MAY 25, 2023

The origination activity will cease effective July 31, 2023, but all outstanding mortgage loans will continue to be serviced in accordance with the terms and conditions of the agreements. However, its monthly production declined by a third during this period when the market faced surging mortgage rates and low inventory levels.

Business 356

Business Mortgage Loan Officers Inventory 356

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. Mark Glebman, Caliber Home Loans. Housing prices started to inch down in July, but were still 14.5%

Mortgage 375

Mortgage Loan Officers Inventory Retail 375

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. That offering, Unlock HEA Trust 2023-1, is slated to close this week.

Housing Market 374

Housing Market Marketing Contracts Finance 374

Housing Wire

AUGUST 23, 2023

Rates at the 7% or 8% level could spur a reduction in home prices, but current inventory issues have limited this impact. Even with rates in the mid-7s, there are bidding wars in dozens of markets across the country. Here we are, heading into the fourth quarter of 2023 expecting more rate hikes, not any cuts,” Cohn said.

Mortgage 356

Mortgage Loan Officers Inventory Housing Market 356

Housing Wire

AUGUST 28, 2023

Guild has been acquiring lenders to expand in local markets in a purchase mortgage-focused environment. The company had 227 active loan officers and originated $830 million in the last 12 months. On the back of a purchase market-focused strategy, Guild posted a net income of $36.9 The terms of the deal were not disclosed.

Mortgage 342

Mortgage Retail Loan Officers Construction 342

Housing Wire

SEPTEMBER 23, 2022

You think things are bad in the housing market now? trillion in 2023 will look awfully rosy. Even the most battle-tested industry players are preparing for one of the strongest housing market corrections in decades. Probably, the housing market needs to go to a correction to get to that place.”

Housing Market 367

Housing Market Marketing Mortgage Buyers 367

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. “There is too much distraction in the market; there are some negative folks out there.

Mortgage 463

Mortgage Real Estate Agent Renovations Finance 463

Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. However, a silver lining in the subdued housing market is the strength in new-home sales. They were withdrawing volatility from the market, and they were lowering rates to benefit consumers.

Housing Market 418

Housing Market Marketing Buyers Investors 418

Housing Wire

AUGUST 9, 2023

Large banks have historically been the rulers of the jumbo market. Economic conditions, however, are opening up space for new entrants eyeing market share. Their retreat opens up opportunities for rival firms to grab market share. Part I explains the jumbo market’s decline.) Part I explains the jumbo market’s decline.)

Marketing 305

Marketing Retail Mortgage Investors 305

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. Goldman Sachs predicts a 75 bps hike at the November meeting followed by a 50 bps raise in December and a 25 bps increase in January 2023. Mortgage rates have nearly doubled to around 6.5%

Mortgage 400

Mortgage Loan Officers Buyers Inventory 400

Housing Wire

FEBRUARY 15, 2023

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. Closing just shy of $100 million of production in 2022, he’s aiming for a higher loan origination volume in 2023.

Mortgage 334

Mortgage Loan Officers Lending Retail 334

Housing Wire

JULY 26, 2023

When clients find their dream house and are ready to make an offer, Todd Armstrong’s next call isn’t necessarily to the seller’s agent or the buyer’s loan officer. “We Tight inventory and soaring home prices have pushed more homebuyers to more affordable areas in California. The result? Check out Han’s excellent feature here.

Insurance 344

Insurance Housing Market Marketing Supply Chain 344

Housing Wire

JANUARY 9, 2024

This is an extension of the Fee Freedom initiative Rocket launched in January 2023, which provided credit reports for its broker partners at no cost. FICO) – the company that retains the rights to the market’s adopted methodology to measure consumer credit risk – will charge one price to all lenders.

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Loan Officers Real Estate Agent Tools Business 246

Housing Wire

NOVEMBER 10, 2023

Many homebuyers are aware of the lack of inventory of existing homes for sale, he explained. Because of that, they want to avoid any potential bidding wars by getting back into the market earlier rather than waiting for mortgage rates to drop further. The CPI report for October 2023 – set to release on Nov.

Mortgage 413

Mortgage Inventory Marketing Retail 413

Housing Wire

APRIL 14, 2022

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. Profitability may resemble the market in 2018 , when around one-third of nonbank lenders failed to turn a profit.

Mortgage 519

Mortgage Marketing Retail Lending 519

Housing Wire

JULY 27, 2022

There are now fewer possible borrowers considering refinances due to the increased interest rates, while most potential purchasers are encountering low inventory that has led to multiple bids on properties, cash offers and ongoing searches. as well as rent, depreciation, general & administrative, marketing and other fixed expenses.

Mortgage 333

Mortgage Marketing Lending Business 333

Housing Wire

APRIL 16, 2024

Reverse mortgage volume dropped in February compared to the month prior, and new data compiled by Reverse Market Insight (RMI) shows that the primary culprit for the month was retail reverse mortgage originations. That’s because those were the two lowest case number assignment months in all of 2023, McCue said.

Retail 306

Retail Mortgage Business Loan Officers 306

Housing Wire

FEBRUARY 12, 2024

As the mortgage industry grapples with a changing market and regulatory complexities, we sat down with Amanda Phillips, Executive Vice President of Compliance at ACES Quality Management , to discuss how lenders can foster long-term success through a robust servicing QC process.

Mortgage 347

Mortgage Technology Inventory Lending 347

Housing Wire

AUGUST 3, 2023

Rocket Companies , the parent of Rocket Mortgage , returned to profitability in the second quarter of 2023 driven by an increase in the purchase mortgage market share and expense cuts in business lines that aren’t profitable. billion in origination volume in Q2, up about 31% from $17 billion in Q1 2023.

Clients 301

Clients Business Inventory Mortgage 301

Housing Wire

JUNE 2, 2023

Mat Ishbia is optimistic about the mortgage market. The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ?

Retail 346

Retail Inventory Mortgage Loan Officers 346

Housing Wire

MARCH 30, 2023

My perspective is, you need to have companies that are willing to open up that credit risk profile in order to help your loan officers bring in volume. But with the broker model, you’ve got so many outlets to send these loans to that it’s really easy to find a home for most borrowers.

Mortgage 343

Mortgage Retail Loan Officers Brokerage 343

Housing Wire

MAY 3, 2023

The 25 bps hike was widely expected by Wall Street, as the macroeconomic policy crafters have yet to break the labor market and inflation levels are still considered elevated at 5%, far above the 2% target. Existing home sales in particular have been paltry in 2023, largely due to low levels of inventory.

Real Estate Agent 370

Real Estate Agent Inventory Loan Officers Mortgage 370

Housing Wire

JULY 20, 2023

Lenders point to cost-cutting as their top business priority amid the mortgage industry facing a number of challenges – including high home prices , tight inventory of homes available for sale and interest rate hikes. It’s expensive to let people go and then rehire.

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Lending Technology Business Construction 335