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 417

Business Loan Officers Mortgage Lending 417

Housing Wire

APRIL 24, 2024

million in the first quarter of 2024, the California -based multichannel lender and servicer announced Wednesday. Strong volume increases in our consumer and broker direct channels drove continued profitability in our production segment.” But broker-channel margins grew from 79 basis points to 103 basis points during that period.

Lending 416

Lending Legal Contracts Mortgage 416

Housing Wire

JANUARY 10, 2024

Blue Sage Solutions’s primary product offering is a cloud-based digital lending platform designed to operate in the retail, wholesale, and correspondent lending channels while ensuring compliance. Additionally, the platform is accessible to all users, regardless of their current loan origination software.

Retail 415

Retail Lending Design Technology 415

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 439

Lending Tools Inventory Renovations 439

Housing Wire

JANUARY 25, 2024

Jonathon Haddad, president of Next Door Lending , will replace Katie Sweeney as the chairman and CEO of the Association of Independent Mortgage Experts (AIME). AIME tapped a relative newcomer to the broker channel to become its CEO. Next Door Lending’s overall mortgage volume was $595 million, per Modex.

Retail 417

Retail Lending Loan Officers Brokerage 417

Housing Wire

OCTOBER 2, 2023

Equity Prime Mortgage (EPM), which shifted to the TPO business after exiting its retail channel in the fall, has embarked on a new chapter. EPM wants to help grow the industry’s wholesale channel through its newly launched broker recruiting website. If EPM happens to get one of those loans down the line, great, even better.

Retail 407

Retail Loan Officers Lending Business 407

Housing Wire

FEBRUARY 6, 2024

Insellerate , a customer relationship management (CRM) provider that serves banks, credit unions and other lenders, has rehauled its user interface (UI) to make it more user-friendly and efficient. Insellerate’s services work across all lending channels, including retail , wholesale , TPO , consumer direct, recruiting and reverse.

Loan Officers 397

Loan Officers Retail Lending Marketing 397

Housing Wire

JANUARY 29, 2024

The decision was made because the company believes the retail lenders’ business model negatively impacts consumers, brokers, and the wholesale channel, it claims. The lender claims Atlantic Trust’s submission of the loans equates to at least $335,000 in liquidated damages. UWM sued Kevron Investments Inc.

Contracts 437

Contracts Loan Officers Lending Retail 437

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. Planet, which originates loans through the correspondent and retail channels, plans to grow organically and via mergers and acquisitions. The lender originated $6.5

Retail 395

Retail Mortgage Lending Renovations 395

Housing Wire

OCTOBER 24, 2023

Insellerate , a CRM provider serving banks, lenders and credit unions, announced an integration with Finastra ’s MortgagebotLOS and Originate solutions on Tuesday. ” Insellerate’s services work across all lending channels: retail , wholesale , TPO , consumer direct, recruiting and reverse. .”

Loan Officers 417

Loan Officers Retail Lending Marketing 417

Housing Wire

JUNE 5, 2023

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. HousingWire: What role has wholesale lending historically played in the mortgage ecosystem?

Mortgage 370

Mortgage Retail Lending Loan Officers 370

Housing Wire

OCTOBER 18, 2023

For years broker channel evangelists told me that a down market would give them an edge on their retail brethren. How has the broker channel fared in the wake of the Fed rate hikes ? A significant number of retail lenders were purpose-built to pump out huge refi volumes with a call center model. Take a look.

Retail 512

Retail Loan Officers Brokerage Mortgage 512

Housing Wire

AUGUST 10, 2022

Mortgage lender Celebrity Home Loans shut down its correspondent channel and laid off employees on Tuesday. Amid a market downturn, the company has decided to focus on the retail lending business. “As The post Celebrity Home Loans exits correspondent channel appeared first on HousingWire. Celebrity is the latest example.

Retail 370

Retail Lending Mortgage Business 370

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 395

Retail Loan Officers Business Lending 395

Housing Wire

SEPTEMBER 28, 2023

Jim Anderson Colorado-based lender Loan Simple brought on Jim Anderson as its new chief marketing officer. Prior to Finance of America, Anderson held CMO positions at Stearns Lending and Certainty Home Loans. Anderson brings nearly seven years of experience in the mortgage industry with his latest stint as CMO at FoA.

Marketing 406

Marketing Lending Finance Mortgage 406

Housing Wire

FEBRUARY 22, 2024

The company reduced its cost structure by nearly 20% in 2023 following a nearly 25% reduction in 2022, but lower origination volume failed to keep the company profitable as the industry is still going through a challenging period for mortgage lending. By channel, Rocket reported $10.3 For the entire year of 2023, Rocket generated $78.7

Mortgage 427

Mortgage Clients Lending Business 427

Housing Wire

FEBRUARY 12, 2024

A group of investors led by Colorado-based fund manager Proprietary Capital has completed the acquisition of multichannel lender American Financial Resources (AFR), the parties announced on Monday. Pieklo spent 14 years at the lender before leaving in 2018. AFR offers agency, nonagency and government lending products.

Lending 412

Lending Renovations Construction Finance 412

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Northpointe was the 24th largest correspondent lender , according to Inside Mortgage Finance.

Lending 383

Lending Business Retail Client Relationships 383

Housing Wire

JANUARY 23, 2024

Blue Sage: Digital Lending Platform Our Digital Lending Platform is a multi-channel, end-to-end digital mortgage solution that provides a superior experience for lenders and customers. API-centric and based on consumer data models, our platform focuses on innovation, automation, and business transformation.

Lending 312

Lending Architecture Loan Officers Tools 312

Housing Wire

AUGUST 30, 2022

Add mortgage lender Mountain West Financial to the list of victims of the price war in the wholesale channel. The Redlands, California-based company informed its broker network last week that it has “made the difficult decision to take a step back from wholesale lending,” according to a spokesperson.

Lending 417

Lending Retail Mortgage Clients 417

Housing Wire

OCTOBER 30, 2023

The program is available nationwide through the retail channel for first-time and repeat homebuyers applying for FHA 30-year, fixed-rate purchase loans. The lender is also considering offering a rate buy-down option soon, according to a spokesperson for the company. Guaranteed Rate joined the list in July with OneDown.

Lending 469

Lending Retail Finance Insurance 469

Housing Wire

DECEMBER 12, 2022

The mortgage lender’s overall origination volume dropped 54% from January to September compared to the same period in 2021, according to data from Inside Mortgage Finance. Despite struggles in retail and wholesale, Pennymac has remained a standout in the correspondent channel, in which lenders aggregate loans from smaller originators.

Marketing 395

Marketing Lending Retail Clients 395

Housing Wire

JANUARY 10, 2023

Wells Fargo , the largest depository mortgage lender in America, announced Tuesday that it will officially exit the correspondent channel and also reduce its servicing portfolio, the country’s largest. . In practice, the bank’s portfolio on correspondent lending was already in free fall. That was good for no.

Lending 481

Lending Real Estate Agent Mortgage Finance 481

Housing Wire

APRIL 14, 2023

Wells Fargo and JP Morgan Chase , the country’s top depository lenders, saw mortgage production volume further decline in the first three months of 2023, signaling another tough quarter for the mortgage industry. mortgage lender by volume, originated $6.6 Production volume in the retail channel dropped 77% from $24.1

Lending 368

Lending Retail Mortgage Investing 368

Housing Wire

OCTOBER 12, 2023

Wholesale lender The Loan Store launched a consumer rewards program designed to help mortgage brokers offer competitive mortgage rates. Consumers will also have access to the consumer rewards program through non-delegated correspondents in the wholesale channel.

Lending 406

Lending Design Government Tools 406

Housing Wire

APRIL 13, 2023

To address the challenges and inefficiencies in the traditional lending process, Tavant has developed the Touchless Lending platform, which leverages advanced technologies like artificial intelligence, machine learning, data analytics and cloud computing.

Lending 367

Lending Mortgage Technology Business 367

Housing Wire

DECEMBER 9, 2022

Bank exited a few years ago to focus on customer relationships in core lending categories,” a spokesperson for U.S. The bank is well positioned in retail and correspondent lending and tries to maintain a balanced portfolio between both channels. . mortgage company in the retail channel, with a $25.4 year over year.

Lending 382

Lending Business Retail Finance 382

Housing Wire

FEBRUARY 9, 2024

The challenging lending environment has pushed many lenders to reduce costs by cutting back on certain aspects of their business, including exiting origination channels, which has contributed to lower credit supply.”

Mortgage 427

Mortgage Government Lending Technology 427

Housing Wire

MARCH 6, 2023

GHMC originates and purchases loans through multiple channels. The expansion is part of the company’s strategy to grow its presence and focus on residential mortgage lending. Dammeyer and Hammett have over 50 years of combined lending experience. GHMC’s TPO channel had a total funded volume of $2.5

Retail 395

Retail Mortgage Lending Technology 395

Housing Wire

JANUARY 18, 2023

Pennymac , the country’s largest correspondent lender with about 14% market share, has its eyes fixed on absorbing origination volume that Wells Fargo is leaving behind in the correspondent channel. . At the end of 2022, Pennymac aggregated loans from about 770 lenders across the country, Tidmore said in a previous interview.

Clients 427

Clients Investors Lending Mortgage 427

Housing Wire

JANUARY 31, 2022

The nonbank mortgage lender is expanding its consumer direct lending business while some competitors are laying off employees with the expectation that the channel cools down with higher mortgage rates. PennyMac is growing fast with its consumer direct lending business. The consumer direct channel contributed to $446.7

Business 362

Business Lending Loan Officers Mortgage 362

Housing Wire

JANUARY 31, 2023

(NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We NYCB, one of New York City’s largest multifamily lenders, announced the restructuring of the mortgage division during its fourth-quarter earnings report on Tuesday morning. billion in volume.

Retail 393

Retail Mortgage Lending Business 393

Housing Wire

FEBRUARY 1, 2023

Wells Fargo cut over a hundred jobs in its mortgage division this week following its decision to exit the correspondent channel and shrink its servicing portfolio. “As we said in our January 10 press release, we are exiting the correspondent lending business. . It originated $14.6

Lending 383

Lending Mortgage Finance Business 383

Housing Wire

JANUARY 10, 2022

PennyMac Financial Services announced today that it’s launching a new technology platform for its broker channel, and it has rebranded its broker division from PennyMac Broker Direct to Pennymac TPO. In the wholesale lending space, there has been a notable push to entice brokers to come onboard.

Real Estate Agent 382

Real Estate Agent Lending Real Estate Technology 382

Housing Wire

SEPTEMBER 15, 2023

New York-based multichannel lender US Mortgage Corporation has named Nino Saso as chief production officer. A mortgage industry veteran with over three decades of experience, Saso was previously a divisional sales manager at Nations Lending.

Mortgage 417

Mortgage Retail Lending Business 417

Appraisal Buzz

AUGUST 16, 2021

PERSON OF THE WEEK: Mortgage lenders have made great strides in delivering a seamless all-digital mortgage experience. Lender adoption of technology to facilitate a “contactless” mortgage process has rapidly accelerated due to the pandemic.

Retail 370

Retail Lending Technology Mortgage 370

Housing Wire

SEPTEMBER 27, 2022

In the quest to extend homeownership to everyday Americans, local lenders—a segment that includes credit unions, community banks and independent mortgage banks serving communities across the country—play a vital role. counties , local lenders help millions of people access resources and services necessary to buy a house.

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Housing Market Marketing Logistics Lending 383