Remove 2023 Remove Loan Officers Remove Marketing Remove Real Estate Agent
article thumbnail

DataDigest: There are too many real estate agents and LOs. It’s a problem

Housing Wire

You know what loan officers and real estate agents love almost as much as cashing a commission check? Complaining about other loan officers and real estate agents. trillion in 2023. Looking at the productivity of the LO’s real estate agent partners is key, he said.

article thumbnail

How loan officers are dealing with surging rates and record-low inventory 

Housing Wire

He was cautiously optimistic for a better 2023. The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loan officers up at night. It’s almost like there was a false start,” Monson said.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Rocket Mortgage plans to hire 500 remote LOs by the end of 2023

Housing Wire

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.

article thumbnail

The ‘double-edged sword’ of dual licensing

Housing Wire

In a down market disrupted by the commission lawsuits, agents and LOs are considering working in a dual capacity. 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.

article thumbnail

How loan originators survived a cutthroat mortgage business in 2023

Housing Wire

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.

Business 401
article thumbnail

LendingPulse Q2 2023 survey: Mortgage pros share their biggest concerns, market outlook

Housing Wire

Industry players are largely pessimistic about the economic climate and expect interest rates to trend up in the near term future, according to the HousingWire Q2 2023 LenderPulse survey. None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced.

Mortgage 301
article thumbnail

New G-Rate program allows sellers to permanently buy down their buyer’s mortgage rate

Housing Wire

Guaranteed Rate has introduced a new feature that allows sellers working with a G-Rate loan officer to pay a fee that locks in a permanently discounted mortgage rate for a buyer. For as low as $995 the seller can secure a discounted rate to market the listing, according to Guaranteed Rate.

Sellers 398