Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Charting the loan officer exit. million. .

Loan Officers 402

Loan Officers Mortgage Retail Finance 402

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. ” According to Scotsman Guide , Potempa was the No. million. .”

Loan Officers 378

Loan Officers Mortgage Retail Lending 378

Housing Wire

AUGUST 17, 2023

Reflecting the housing industry’s headwinds, just 16 mortgage lenders and brokers made the annual list of Inc. It’s a sharp decline from 2022, when nearly 70 mortgage lenders and brokers were named. The top mortgage lender on the Inc. Zap Mortgage (no.294) Zap Mortgage (no.294) Trius Lending Partners (no.678),

Loan Officers 356

Loan Officers Mortgage Development Lending 356

Housing Wire

MAY 2, 2024

Redlands, California-based mortgage lender Mountain West Financial has struck a deal to sell its retail assets to competitor ML Mortgage Corp. , one of the latest M&A transactions amid a challenging landscape for home loan originators. “We We did transfer our branches and loan officers to ML Mortgage.

Retail 358

Retail Loan Officers Mortgage Lending 358

Housing Wire

JULY 31, 2023

banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation. A 40%-plus net share of all U.S. branches and agencies of foreign banks.

Lending 328

Lending Mortgage Loan Officers Government 328

Housing Wire

APRIL 17, 2024

Tennessee-based multichannel mortgage lender First Community Mortgage announced on Wednesday that it has selected the Blue Sage Solutions digital lending platform and its LION Consumer POS to help scale its growth efforts across the 48 states it operates in. In FCM’s case, this also includes interim servicing.

Business 382

Business Loan Officers Mortgage Lending 382

Housing Wire

AUGUST 14, 2023

Though its overall mortgage strategy has apparently not changed, Rocket Mortgage is undoubtedly ramping up its initiative to hire local loan officers to win purchase business. The Detroit-based lender plans to recruit up to 500 LOs by the end of 2023, more than triple the current local LO pool.

Loan Officers 333

Loan Officers Mortgage Real Estate Agent Real Estate 333

Housing Wire

FEBRUARY 21, 2024

Longtime reverse mortgage industry professional Tane Cabe has joined C2 Financial ’s reverse mortgage division as a “retirement mortgage expert,” according to an announcement issued by the company this week. Cabe, who most recently served as president of reverse mortgage lending at Fairway Independent Mortgage Corp.

Mortgage 357

Mortgage Loan Officers Clients Lending 357

Housing Wire

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. billion in mortgage loans in 2023, according to Kortas, easily more than any other brokerage. NEXA did $6.29

Mortgage 400

Mortgage Brokerage Loan Officers Business 400

Housing Wire

MAY 29, 2024

Multichannel lender New American Funding (NAF) is going big on reverse mortgages. As already evidenced by its ambitious new marketing campaign, “ Old Wives ,” the company is also aiming to streamline its existing presence in the reverse mortgage market. Those traditional loan officers have been such a blessing.

Business 324

Business Loan Officers Mortgage Clients 324

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. According to the most recent annual report to Congress by the U.S. That’s not saying all that much.

Mortgage 329

Mortgage Loan Officers Lending Business 329

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

Mortgage 350

Mortgage Retail Loan Officers Construction 350

Housing Wire

MARCH 5, 2024

John Abraham, former top-producing mortgage loan officer at Caliber Home Loans /NewRez , has joined The Money Store. Abraham was named vice president and producing branch manager in Illinois, where he will serve as sales leader and mortgage originator. million in volume in 2023, data from Modex showed.

Loan Officers 344

Loan Officers Retail Lending Mortgage 344

Housing Wire

APRIL 18, 2024

Florida-based First Federal Bank announced on Thursday that it struck a deal to acquire Watson Mortgage Corp., expanding its mortgage retail lending footprint in the communities in which it operates. Last year, the community bank originated about $435 million in mortgage volume, per mortgage data platform Modex.

Mortgage 367

Mortgage Realty Loan Officers Retail 367

Housing Wire

SEPTEMBER 26, 2023

Acra Lending , a private mortgage lender, announced its integration with Tavant ’s Touchless Lending Collateral Analysis. This partnership marks a milestone in Tavant’s expansion into non-QM lending. Collateral Analysis is a proprietary product of Tavant’s Touchless Lending automation platform.

Lending 330

Lending Technology Design Investors 330

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. Starting March 1, 2023, servicers will be required to maintain data on borrowers’ age, race, ethnicity, gender and preferred language.

Lending 341

Lending Finance Loan Officers Legal 341

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan.

Lending 356

Lending Real Estate Agent Loan Officers Retail 356

Housing Wire

FEBRUARY 29, 2024

Mortgage lenders are offering discounts on loan pricing to capture borrowers. Mike, a North Carolina-based loan officer, had two loans closing in mid-January. The contrast between the deals was striking. “I have a loan closing today for first-time homebuyers who didn’t really press me on pricing,” he said.

Loan Officers 359

Loan Officers Mortgage Lending Real Estate Agent 359

Housing Wire

JANUARY 26, 2023

California-based lender American Pacific Mortgage (APM) announced an asset purchase agreement with retail lender Lend Smart Mortgage on Thursday in its latest move to drum up production across the country. APM bought assets that include about 25 branches from the Minnesota retail lender Lend Smart. billion.

Lending 328

Lending Retail Loan Officers Mortgage 328

Housing Wire

MAY 6, 2024

mortgage lender Fairway Independent Mortgage Corp. The company announced last week that, in April, it welcomed production teams that collectively originated more than $500 million in mortgage volume in 2023. These groups are bringing a total of 92 mortgage professionals to Fairway. from Q1 2023.

Retail 351

Retail Loan Officers Legal Lending 351

Housing Wire

DECEMBER 11, 2023

Wells Fargo , once the largest mortgage lender in America, was accused of discrimination through the common industry practice of offering mortgage loan discounts to select borrowers, CNBC reported. Loan discounts — known as pricing exceptions — is when a lender makes exceptions to its established credit standards.

Mortgage 404

Mortgage Lending Law Loan Officers 404

Housing Wire

JANUARY 30, 2024

billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. First Financial Bank’s plan also includes investments in small-business lending and donations to organizations that create and preserve affordable housing.

Investing 313

Investing Mortgage Lending Loan Officers 313

Housing Wire

MAY 7, 2024

Recent data from Inside Mortgage Finance shows a significant leap in broker market share, jumping to 24.3% in Q4 2023, the highest number we’ve seen since 2009. The significant cost savings of working with an independent mortgage broker has also become more widely known. The big question is, what caused this increase?

Retail 417

Retail Marketing Loan Officers Government 417

Housing Wire

FEBRUARY 13, 2024

Guild Mortgage has struck a deal to acquire retail rival Academy Mortgage Corporation , which could result in an additional 800-plus loan officers across the country, multiple sources told HousingWire. Of the total, 61% were conventional and 80% were purchase loans. billion in MSRs). billion in MSRs).

Mortgage 422

Mortgage Loan Officers Retail Finance 422

Housing Wire

FEBRUARY 7, 2024

New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. In the mortgage space, the parent of multichannel lender Newrez earned most of its profits from the servicing business. million GAAP net income in 2023 — lower than the figure of $864.8

Valuation 330

Valuation Business Mortgage Loan Officers 330

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.

Lending 353

Lending Tools Inventory Renovations 353

Housing Wire

SEPTEMBER 7, 2022

Setting your sights on the future is important for any business owner, agent or loan officer looking to find success in the ever-changing housing market. At HousingWire Annual , plenty of speakers and panels will be looking ahead to 2023 and discussing the trends and changes that all industry professionals should be anticipating. .

Loan Officers 400

Loan Officers Advertising Technology Realty 400

Housing Wire

NOVEMBER 28, 2023

The Consumer Financial Protection Bureau (CFPB) imposed a $12 million penalty on Bank of America (BofA) for violating federal laws by submitting false mortgage lending information for about four years, it announced on Monday. billion in the third quarter of 2023. A top-20 U.S. Overall, the bank posted a net income of $7.8

Law 404

Law Mortgage Loan Officers Lending 404

Housing Wire

DECEMBER 12, 2023

PrimeLending , a Texas-based retail mortgage bank, added 12 new loan originators as it attempts to grow market share within its existing Texas footprint. PrimeLending has been on a hiring spree to bring on high-performing LOs in 2023 to its existing branches. billion, data from Inside Mortgage Finance showed.

Loan Officers 394

Loan Officers Retail Lending Mortgage 394

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex.

Retail 390

Retail Mortgage Lending Renovations 390

Housing Wire

NOVEMBER 21, 2023

California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, which will boost its presence in New England. In March, the company struck a deal to acquire Homebridge Financial Services ‘s retail division to grow its retail lending business footprint.

Loan Officers 334

Loan Officers Retail Lending Renovations 334

Housing Wire

APRIL 25, 2023

Tavant , a Silicon Valley-based digital lending solutions provider, is adding a new product called Asset Analysis to its AI-powered digital lending platform, Touchless Lending. The new product is in the near-final stages of production and will be available in-market by the end of June 2023.

Lending 287

Lending Loan Officers Mortgage Investors 287

Housing Wire

OCTOBER 4, 2023

Indiana-based First Savings Bank plans to lay off over 100 mortgage employees in the coming months, according to documents filed with authorities in multiple states. News of the plans come as political instability and a strong job market push mortgage rates closer to 8%. In Michigan, 18 will be impacted on Nov.

Human Resources 405

Human Resources Mortgage Tenants Lending 405

Housing Wire

MAY 22, 2024

The average cost for a retail mortgage lender to originate a loan reached $11,600 in the third quarter of 2023, up 35% — or nearly $3,000 per loan — when compared to fourth-quarter 2020, a period of low interest rates and high sales volume, according to a study published Tuesday by Freddie Mac. That’s 2.4

Retail 350

Retail Tools Lending Technology 350

Housing Wire

MAY 1, 2023

HousingWire is excited to announce the 2023 class of Rising Stars! This year, 80 honorees are being recognized for their achievements — 40 winners representing the real estate category and 40 representing mortgage. Congratulations to the 2023 Rising Stars!

Real Estate 370

Real Estate Loan Officers Development Realtors 370

Housing Wire

JANUARY 4, 2023

More than 160 employees from the now-shuttered Finance of America Mortgage have landed at Go Mortgage , a Columbus, Ohio-based lender. In the coming months, more former FoA employees are expected to “trickle in” to Go Mortgage’s retail division, which will bring the total number to 200. Go Mortgage originated $753.2

Retail 452

Retail Mortgage Construction Loan Officers 452

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 361

Mortgage Retail Lending Sellers 361