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. The lender originated $6.5

Retail 393

Retail Mortgage Lending Renovations 393

Housing Wire

JULY 8, 2022

The construction sector, meanwhile, had only a slight gain, according to the U.S. But employment showed little change over the month in other major industries, including construction, retail trade, financial activities, government and other services. Job growth in the U.S. jobs report , released Friday. in June 2021.

Construction 380

Construction Housing Market Retail Real Estate 380

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. Where are mortgage rates headed? in second-quarter 2024.

Mortgage 449

Mortgage Retail Buyers Investors 449

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier.

Mortgage 527

Mortgage Inventory Retail Construction 527

Housing Wire

APRIL 30, 2024

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. But after concerns were brought to the attention of policymakers during the proposal’s comment period, the U.S.

Mortgage 386

Mortgage Real Estate Agent Sellers Construction 386

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde, who was hired in January 2021, managed Go Mortgage’s warehouse lines, pricing, hedging and loan sales.

Mortgage 370

Mortgage Marketing Retail Construction 370

Housing Wire

AUGUST 25, 2023

Retail lender AmeriFirst Financial Inc. filed for Chapter 11 bankruptcy protection in Delaware, just two months after it got back into the forward mortgage origination business. AmeriFirst told Housingwire that the bankruptcy action has no impact on closed mortgages and the loans in the pipeline will be closed and funded.

Mortgage 370

Mortgage Retail Business Lending 370

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 403

Loan Officers Retail Lending Renovations 403

Housing Wire

NOVEMBER 2, 2023

Virginia-based community bank Trustar Bank sold its mortgage subsidiary to Archer Mortgage Holding Company, the companies announced on Thursday. According to its website, Trustar Bank offers 7/1 and 10/1 adjustable rate mortgages ( ARMs ), consumer construction loans and home equity line of credits.

Mortgage 411

Mortgage Loan Officers Construction Retail 411

Housing Wire

JULY 20, 2023

Mortgage rates dropped to 6.78% this week, the biggest weekly decline since mid-March, as investors digested a raft of mixed incoming economic data. As inflation slows, mortgage rates decreased this week,” said Sam Khater, Freddie Mac ’s chief economist in a statement. By contrast, the 30-year was at 5.54% a year ago at this time. “As

Mortgage 356

Mortgage Construction Inventory Investors 356

Housing Wire

AUGUST 31, 2023

Mars Bank — an independent community bank in Pennsylvania — offers mortgage lending, retail and commercial banking in six locations throughout the state. million across 234 loans in the past 12 months, according to the mortgage data platform Modex. Mars Bank held $520.8 million in assets as of June 30, 2023.

Retail 386

Retail Lending Construction Technology 386

Housing Wire

FEBRUARY 5, 2024

Dallas-based OneTrust Home Loans brought on James Hecht as its CEO to spearhead the company’s various mortgage lending divisions. Before joining OneTrust Home Loans, Hecht served as head of production and executive vice president for national retail lending at Newrez , formerly known as Caliber Home Loans.

Lending 406

Lending Retail Construction Tools 406

Housing Wire

FEBRUARY 28, 2024

Ellington Financial , parent company of top 10 reverse mortgage lender Longbridge Financial , reported a lower economic return for the fourth quarter of 2023, which was partially driven by net losses from Longbridge “and other positions,” according to CEO Laurence Penn. per share — Ellington chief financial officer J.R.

Mortgage 406

Mortgage Investors Retail Business 406

Housing Wire

MARCH 12, 2024

Wells Fargo -backed mortgage fintech Maxwell rolled out a point-of-sale (POS) feature that offers tailored workflows and integrations. Lenders can also define workflows and business rules for any mortgage product, including construction loans, manufactured home loans, home equity loans and bridge loans.

Technology 403

Technology Retail Lending Design 403

Housing Wire

MARCH 21, 2024

Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. I’m here to build on our presence in the West by fostering an environment where mortgage loan originators and branch managers can truly thrive.” increase.

Lending 393

Lending Retail Contracts Construction 393

Housing Wire

MAY 24, 2023

debt ceiling impasse and the resilient economy led mortgage rates to climb to the highest level in two months. The latest MBA data published on Wednesday morning shows that mortgage loan applications decreased 4.6% retail residential mortgage applications. Last week, the U.S.

Mortgage 382

Mortgage Inventory Retail Housing Market 382

Housing Wire

DECEMBER 22, 2020

Retail lender Movement Mortgage has invested $200 million to expand its nonprofit Movement Foundation , and to accelerate the development of its growing charter school network. Movement Foundation uses dividends from the mortgage company for affordable housing and related projects to support community stability through homeownership.

Investing 393

Investing Mortgage Development Retail 393

Housing Wire

JUNE 22, 2023

On June 1, Arizona-headquartered retail lender AmeriFirst Financial Inc. relaunched its forward mortgage originations. It ceased that business in December 2022 after rising mortgage rates wreaked havoc on the housing industry. billion in loan origination, according to mortgage tech platform Modex. “If

Loan Officers 367

Loan Officers Mortgage Real Estate Agent Business 367

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9 million as of December 31, 2022, a 13.7%

Business 413

Business Mortgage Lending Insurance 413

Housing Wire

DECEMBER 20, 2022

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. is likely to enter a recession,” Mike Fratantoni, Mortgage Bankers Association’s senior vice president and chief economist, said in a statement.

Mortgage 404

Mortgage Housing Market Retail Contracts 404

Housing Wire

APRIL 28, 2022

Ohio-based Union Home Mortgage is the latest in a string of lenders this week to institute workforce reductions. The multichannel lender, which originated roughly $13 billion in residential mortgage last year, declined to provide any details about the layoffs. The lender’s origination volume increased 25.8% billion, up 65.5%

Mortgage 360

Mortgage Loan Officers Retail Construction 360

Housing Wire

FEBRUARY 15, 2023

Texas-based mortgage lender Click n’ Close announced on Tuesday that its primary technology partner, Alabama-based mortgage banker Barr Group Mortgage, has completed the first eNote transaction using the Click n’ Close non-delegated correspondent eNote program.

Mortgage 279

Mortgage Retail Insurance Technology 279

Housing Wire

OCTOBER 31, 2022

Movement Mortgage on Friday announced the appointment of Lyra Waggoner as its chief information officer. Waggoner’s professional career spans 18 years in the mortgage industry. The key to growing in a challenging mortgage market. Her role will focus on technology to drive the company’s growth. Presented by: Polly.

Loan Officers 370

Loan Officers Mortgage Technology Tools 370

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. I feel bad trying to convince somebody that it’s a good time to buy and get a mortgage. higher than last year.

Mortgage 382

Mortgage Loan Officers Inventory Retail 382

Housing Wire

APRIL 28, 2021

The parent company of Veritex Community Bank will acquire a 49% stake in Texas-based mortgage lender Thrive Mortgage , the firms announced late Tuesday afternoon. Family-owned Thrive has retail operations in Texas, Ohio, Colorado, Kentucky, North Carolina, Kansas, Virginia, Florida, Maryland and Indiana. “We

Mortgage 370

Mortgage Lending Investing Retail 370

Housing Wire

FEBRUARY 15, 2023

California-based retail lender American Pacific Mortgage (APM) has made leadership changes while continuing to eye expansion in the Midwest and Southeast. We believe these changes position American Pacific Mortgage for continued growth and stability.” FoA) months after it shut down its forward mortgage segment.

Retail 363

Retail Renovations Loan Officers Lending 363

Housing Wire

MARCH 8, 2024

Meanwhile, retail trade, mining, quarrying, oil and gas extraction, manufacturing, wholesale trade, information, and financial activities posted fewer jobs in February. In February, employment continued to trend up in construction, adding 23,000 jobs month over month. Average hourly earnings for private-sector employees grew by 0.1%

Transportation 441

Transportation Retail Housing Market Construction 441

Housing Wire

OCTOBER 24, 2023

years and did some other sales jobs before joining the mortgage space about a decade ago. He worked for several mortgage companies, including Bridgeview Bank Group , Mutual of Omaha Mortgage, Inc. In terms of products, Gade said he will have the opportunity to access VA construction loans at UMortgage.

Loan Officers 414

Loan Officers Brokerage Retail Construction 414

Housing Wire

FEBRUARY 12, 2024

8. “With the acquisition of AFR, we will build on our already strong mortgage platform. residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions.

Lending 395

Lending Renovations Construction Finance 395

Housing Wire

MARCH 4, 2022

Take a look at the jobs data and which sector added jobs in February: Construction jobs came in big again, and we didn’t have any negative sectors the last month. Job openings for construction workers are still historically high today as the need for labor in America is very high. The 10-year yield and mortgage rates.

Mortgage 382

Mortgage Retail Construction Marketing 382

Housing Wire

MARCH 10, 2023

percent, partly driven by another increase in labor force participation, but remained well below historical averages,” Joel Kan, the Mortgage Bankers Association’s vice president and deputy chief economist, said in a statement. “We Construction job openings collapsed in January to the lowest level since October 2020.”

Construction 359

Construction Real Estate Housing Market Retail 359

Housing Wire

SEPTEMBER 2, 2022

“The August jobs report revealed that while the labor market remains quite strong, with employment growth still above a sustainable pace; however, that pace is slowing,” Mike Fratantoni, the chief economist at the Mortgage Bankers Association, said in a statement. Heavy and civil engineering construction, meanwhile, lost 2,000 jobs.

Real Estate 414

Real Estate Construction Retail Housing Market 414

Housing Wire

JUNE 8, 2023

Register Sarah Gonzalez is the president and chief operating officer of Panorama Mortgage Group. Her biggest piece of advice for mortgage leaders in this market? “Be These mortgage leaders’ experience spans from retail to affordable housing to new construction. Be decisive and move quickly.”

Retail 367

Retail Business Construction Tools 367

Housing Wire

JANUARY 8, 2021

Due to massive losses in the servicing sector outnumbering professional and construction job gains, the raw number of nonfarm payroll employment fell by 140,000 – the first decline since April of last year. More workers in the sector should support the faster pace of housing construction the market needs,” Fratantoni said.

Construction 433

Construction Retail Law Inventory 433

Housing Wire

DECEMBER 16, 2021

We’ve had the sharpest and yet also the shortest recession in history, record-low mortgage rates leading to record origination volumes, and record home prices as housing demand far outstripped supply. How will the Federal Reserve respond to economic developments in 2022, and what will be the impact on mortgage rates?

Marketing 450

Marketing Mortgage Supply Chain Inventory 450

Housing Wire

DECEMBER 2, 2022

Employment in the construction industry was up by 20,000 jobs from October, thanks to large gains in nonresidential building (up 8,200 jobs) and residential specialty trade contractors (up 6,500 jobs). In February 2020, a combined 300,000 were employed in “ real estate credit ” and as mortgage and nonmortgage loan brokers.

Transportation 414

Transportation Real Estate Construction Retail 414

Housing Wire

JUNE 3, 2022

Employment in retail trade declined. Look at the jobs data and which sector added jobs in March: Construction jobs came in positively, but retail trade took a big hit. Job openings in construction and manufacturing have picked up recently. Months are homes under construction 0.8 Ghost Supply 2.2

Construction 523

Construction Retail Transportation Marketing 523