2025, Loan Officers and Mortgage - Property Appraisal Zone

Mortgage rates are the highest they’ve been this year. Did loan officers expect this?

Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S. economy remains hot.

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Loan Officers Mortgage Buyers Inventory

A sub-7% mortgage rate brings holiday cheer

Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

Mortgage

Mortgage New Listings Loan Officers Inventory

Median payment on purchase mortgage application rises to $2,061

Housing Wire

MARCH 23, 2023

Buyers continue to feel the pinch from high mortgage rates and still-elevated home prices. An increase in MBA’s PAPI – indicative of declining borrower affordability conditions – means that the mortgage payment to income ratio is higher due to increasing application loan amounts, rising mortgage rates or a decrease in earnings.

Mortgage

Mortgage Loan Officers Inventory Buyers

Mortgage lenders facing a dark, cold winter

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

Mortgage

Mortgage Loan Officers Finance Buyers

Pennymac issued pink slips to more than 80 staff at year end

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.

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Motto sues UMortgage for ‘tortious interference’ in franchise contract

Housing Wire

APRIL 20, 2023

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

Contracts

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The next refi boom’s double-edged sword: EPOs

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

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Will falling mortgage rates entice potential homebuyers off the sidelines?

Housing Wire

NOVEMBER 10, 2023

Mortgage rates this week saw the biggest one-week decline in a year and potential homebuyers waiting for rates to drop responded, said Josh Mettle, division president and co-creator of NEO Home Loans. “I I think we were up right around 15% increase in the number of initial mortgage applications.

Mortgage

Mortgage Inventory Marketing Retail

How EPM plans to win in the TPO channel after exiting retail

Housing Wire

SEPTEMBER 7, 2023

Equity Prime Mortgage (EPM) has completely shifted to the TPO business after seeing growth opportunities in the wholesale channel, a distribution channel that’s been growing in recent years. Many of EPM’s retail loan officers transitioned to Informed Mortgage , a lender Carpitella launched in August.

Retail

Retail Loan Officers Business Lending

Alec Hanson named top marketer at loanDepot

Housing Wire

MAY 31, 2023

Hanson’s promotion comes at a time when the lender is focused on propelling forward its Vision 2025 strategic plan, which includes rightsizing its operations as the company is in the red. The company expects higher production and a further reduction in controllable expenses that will help the lender narrow losses in Q2.

Marketing

Marketing Development Mortgage Loan Officers

Will new products stop the bleeding for mortgage lenders?

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

Mortgage Loan Officers Finance Investors

EPM doubles down on wholesale channel, reduces retail footprint

Housing Wire

JUNE 13, 2023

Atlanta-based Equity Prime Mortgage (EPM) has decided to focus its investments on the wholesale channel amid the most challenging mortgage market in decades. This has resulted in the company closing branches and laying off loan officers on the retail side. “Wholesale is growing. in 2014. .

Retail

Retail Loan Officers Landlords Lending

Mat Ishbia talks the ‘loser mentality,’ the controversial ‘ultimatum’ and the years ahead

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. Meanwhile, 2025 and 2026 will be off the charts. And 2025 and 2026 will be off the charts. mortgage lender.

Retail

Retail Inventory Mortgage Loan Officers

How LOs, mortgage execs are preparing for 2024

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. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

Mortgage

Mortgage Loan Officers Inventory Business

6% mortgage rates are back (for select borrowers)

Housing Wire

DECEMBER 11, 2023

After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. 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.

Mortgage

Mortgage Buyers Inventory Technology

Frank Martell talks loanDepot’s restructuring, path to profitability and M&As

Housing Wire

OCTOBER 23, 2023

” Martell’s first big move as CEO was to announce the Vision 2025 plan in July 2022, which included simplifying the organizational structure, focusing on client service, quality, automation and operating leverage. Amid a shrinking market, Vision 2025 was extended into 2026 and beyond, Martell said. We’re stable.

Technology

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Many mortgage lenders are like frogs in a slow boil

Housing Wire

JULY 19, 2023

The dour housing market over the past 18 months has thrust struggling independent mortgage lenders (IMBs) into what seems like a pot of water that is coming slowly to a boil. Repurchase requests are prompted after GSE quality-review teams uncover underwriting errors in mortgages purchased by the agencies. “It

Mortgage

Mortgage Marketing Buyers Lending

loanDepot CIO on the evolution of build versus buy over 14 years

Housing Wire

JANUARY 4, 2024

Editor in Chief Sarah Wheeler sat down with George Brady, loanDepot’s chief information officer, to discuss the company’s evolving tech strategy and how he thinks long-term about tech in a rapidly changing environment. What drew you into the mortgage industry? SW: Is 14 years a long time when it comes to mortgage tech?

Technology

Technology Loan Officers Modernization Development

DataDigest: Goldilocks and the big IMBs

Housing Wire

AUGUST 16, 2023

The biggest nonbank mortgage lenders in America saw improved performance in both origination and servicing segments in the second quarter, capitalizing on the continued mortgage pullback from banks. As we’ve reported, that trend looks sticky, which could help change the fortunes of top independent mortgage banks sooner than expected.

Retail

Retail Real Estate Agent Business Mortgage

Guild launches 1% down payment advantage program

Housing Wire

JUNE 13, 2023

Add Guild Mortgage to the list of lenders offering down payment assistance programs in order to court more buyers at a time when mortgage rates remain elevated. To qualify for the 1% down payment advantage program, buyers must have a minimum credit score of 620 and a 95 to 97% loan-to-value first mortgage.

Buyers

Buyers Retail Mortgage Insurance

How to Move Past Student Debt – and Into a Home

Will Springer Realtor

SEPTEMBER 28, 2022

You want to buy a home but you’re worried you won’t qualify for a mortgage because of your student loan debt. Half of non-homeowners (51%) say student loan debt is delaying them from buying a home, according to a survey from the National Association of Realtors ®. The average student loan payment is $460 a month.

Buyers

Buyers Loan Officers Mortgage Realtors

Remote work isn’t going anywhere. Should you move to a better location?

Cornerstone

NOVEMBER 12, 2021

By 2025, 36.2 Couple this equity gain with today’s historically low mortgage rates, and you may find it effortless to afford a home in a new location or a higher price range. Upwork stated: “The number of remote workers in the next five years is expected to be nearly double what it was before COVID-19. We can help.

Loan Officers

Loan Officers Real Estate Mortgage Technology

A property tax reckoning is coming

Housing Wire

APRIL 25, 2022

In Spokane, Washington, a mortgage loan officer at a regional bank has seen five borrowers qualify for a mortgage for one amount, only to have that number slashed a few months later. The tax assessment office said there might be a reassessment in 2025. They were approved in December,” he said.

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Property Appraisal Zone

Mortgage rates are the highest they’ve been this year. Did loan officers expect this?

A sub-7% mortgage rate brings holiday cheer

Trending Sources

Median payment on purchase mortgage application rises to $2,061

Mortgage lenders facing a dark, cold winter

Pennymac issued pink slips to more than 80 staff at year end

Motto sues UMortgage for ‘tortious interference’ in franchise contract

The next refi boom’s double-edged sword: EPOs

Will falling mortgage rates entice potential homebuyers off the sidelines?

How EPM plans to win in the TPO channel after exiting retail

Alec Hanson named top marketer at loanDepot

Will new products stop the bleeding for mortgage lenders?

EPM doubles down on wholesale channel, reduces retail footprint

Mat Ishbia talks the ‘loser mentality,’ the controversial ‘ultimatum’ and the years ahead

How LOs, mortgage execs are preparing for 2024

6% mortgage rates are back (for select borrowers)

Frank Martell talks loanDepot’s restructuring, path to profitability and M&As

Many mortgage lenders are like frogs in a slow boil

loanDepot CIO on the evolution of build versus buy over 14 years

DataDigest: Goldilocks and the big IMBs

Guild launches 1% down payment advantage program

How to Move Past Student Debt – and Into a Home

Remote work isn’t going anywhere. Should you move to a better location?

A property tax reckoning is coming

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