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With 20% market share, independent mortgage brokers are competing directly with retail lenders

Housing Wire

Because as loan officers, they believe that there’s nothing better than a broker channel, and to them this is most important for their consumers,” said Kortas. “We Nichols pointed out that after the 2008 financial crisis, wholesale lending began using technology that helped match pace with the processes of retail lenders.

Retail 364
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What mortgage lenders need to know about wholesale

Housing Wire

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. Desmond Smith: There are two ways to get a mortgage — wholesale or retail.

Mortgage 340
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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

Coming off multiple quarters of financial losses , Rocket has accelerated those efforts in 2023, embarking on a remote local loan officer hiring spree designed to capture purchase market business from real estate agent connections, sources told HousingWire. So this isn’t brand new,” Kidwell noted.

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In quest to grow reverse business, US Mortgage Corporation hires Krajewski

Housing Wire

And I love the idea that we can get so deep with these clients and really impact their lives for the better.” When I think about the reverse product specifically, it really is such a unique product in the sense that it is really part of a life-planning exercise.

Business 367
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Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 Godin made plans to relaunch the business in late 2019 as a tech-forward lender that originated loans across both wholesale and retail channels. I think 99% of the loans that I was writing there were refinances.

Mortgage 336
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United Wholesale Mortgage’s Blink+ tool includes an LOS, POS and CRM all in one package

Housing Wire

The wholesale channel will continue to grow as more retail originators and borrowers learn the benefits of working with a mortgage broker. At UWM we focus on our client service, operational efficiency and speed to close loans. Jason Bressler, Chief Technology Officer.

Tools 304
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What’s in store for non-QM in 2024?

Housing Wire

Our client development team spends a lot of time at conference forums and in retail branches educating loan officers. The high interest rate environment has created a situation with more brokers wanting training to become experts in non-QM. Deephaven is the teaching university of lenders!

Investors 375