Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands.

Lending 358

Lending Finance Loan Officers Legal 358

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan.

Lending 372

Lending Real Estate Agent Loan Officers Retail 372

Housing Wire

SEPTEMBER 16, 2022

Looking for a quick and easy way to stay up-to-date on mortgage lending news, trends and technology? Podcasts are a great resource for mortgage professionals to continue learning, with shows covering industry updates, business advice and the experiences of other pros in the mortgage industry. Mortgage Marketing Radio.

Loan Officers 404

Loan Officers Mortgage Lending Modernization 404

Housing Wire

AUGUST 8, 2022

HousingWire recently spoke with John Jeanmonod, Regional Vice President of Sales at Angel Oak, about non-QM lending and the outlook for the second half of 2022. HousingWire: Given the recent news about a few non-QM lenders shutting down, some loan officers might be hesitant about working with non-QM.

Lending 346

Lending Loan Officers Training Investors 346

Housing Wire

FEBRUARY 20, 2024

Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.

Loan Officers 370

Loan Officers Technology Lending Tools 370

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. HW: How has wholesale changed over the past 2–3 years?

Mortgage 353

Mortgage Retail Lending Loan Officers 353

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 440

Mortgage Loan Officers Inventory Business 440

Housing Wire

JUNE 22, 2023

relaunched its forward mortgage originations. It ceased that business in December 2022 after rising mortgage rates wreaked havoc on the housing industry. Of the 400 employees scooped up by American Pacific Mortgage (APM) late last year, about 20 LOs have returned to AmeriFirst Financial. In 2022, AmeriFirst closed $2.5

Loan Officers 335

Loan Officers Mortgage Real Estate Agent Business 335

Housing Wire

JUNE 2, 2022

Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. ” NCRC had previously provided training to Movement Mortgage, at the lender’s request, in 2019.

Mortgage 373

Mortgage Training Loan Officers Lending 373

Appraisal Buzz

JUNE 7, 2021

Certain states require AMC staff to receive training to ensure they understand valuation independence regulations as well as other statutory requirements. Our free webinar, “ Components of AMC Training ” will be held on June 10th at 2 pm with Josh Walitt as the host. Buzz : Why do AMCs need the training?

Training 366

Training Reconsideration of Value Valuation Clients 366

Housing Wire

JULY 26, 2023

The Consumer Financial Protection Bureau (CFPB) found that mortgage lenders violated the Equal Credit Opportunity Act (ECOA) and its implementing rule, Regulation B, in a variety of ways, according to the most recent release of its Supervisory Highlights report.

Mortgage 354

Mortgage Loan Officers Lending Training 354

Housing Wire

FEBRUARY 15, 2023

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. It’s a different approach to lending.

Mortgage 347

Mortgage Loan Officers Lending Retail 347

Housing Wire

SEPTEMBER 27, 2021

Exponentially increase your loan officers’ origination potential without incurring additional expense? Examiners such as the CFPB and FDIC provide stringent oversight of digital activity, and mistakes can cost you and your loan officers dearly. Sounds too good to be true, doesn’t it?

Loan Officers 366

Loan Officers Training Development Technology 366

Housing Wire

MARCH 28, 2024

A race is a useful analog for the mortgage business, especially as it relates to the refinance business. It’s amazing how many loan officers miss this, don’t return the call quickly, and lose their race before it’s even underway. Most experts believe that it’s only a matter of time before mortgage rates come down.

Mortgage 416

Mortgage Technology Tools Business 416

Housing Wire

MAY 25, 2022

Keller Mortgage , part of the kwx holding company, laid off operations positions in a conference call on Monday May 23, according to more than a dozen employees. Each pod has about 15 employees consisting of loan officers, processors, closers, underwriters, supervisors, and funders, according to multiple employees. .

Mortgage 389

Mortgage Loan Officers Retail Training 389

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4%

Mortgage 316

Mortgage Marketing Loan Officers Real Estate Agent 316

Housing Wire

JUNE 6, 2022

It’s a tough time for mortgage lenders. A rapid rise in mortgage rates and a big drop in origination volume has led to thousands of industry job losses over the last six months. Nonbank lenders such as Pennymac , Mr. Cooper , loanDepot , Guaranteed Rate , Fairway Independent Mortgage , Interfirst Mortgage Co.,

Mortgage 412

Mortgage Loan Officers Lending Human Resources 412

Housing Wire

JANUARY 10, 2024

Rapidly expanding Cleveland, Ohio-based CrossCountry Mortgage (CCM) has struck a deal to acquire the smaller retail mortgage lender AmCap Home Loans and bolster its operations in Texas. billion in loans in 2023. 10, AmCap had only 43 sponsored LOs due to some having already transitioned to CCM.

Retail 348

Retail Mortgage Loan Officers Business 348

Housing Wire

SEPTEMBER 27, 2023

community bank, was accused of illegally avoiding providing mortgage services to majority Black and Hispanic neighborhoods in Rhode Island. The DOJ alleges that the bank also failed to train and incentivize its staff to market and advertise its mortgage services to compensate for its lack of presence in these areas.

Advertising 385

Advertising Loan Officers Lending Training 385

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As

Mortgage 364

Mortgage Loan Officers Lending Business 364

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 361

Contracts Loan Officers Legal Best Value 361

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Three independent wholesale brokers discuss how they found success in the wholesale channel during a HousingWire webinar on Thursday titled: ”Taking the Mortgage Boom to the Next Level.”.

Retail 368

Retail Mortgage Loan Officers Marketing 368

Housing Wire

NOVEMBER 23, 2021

Chicago-based Interfirst Mortgage Co. will lay off 77 employees in its Charlotte, North Carolina office come January 2022, a Worker Adjustment and Retraining Notification Act (WARN) notice filed by the company reveals. In returning from its three-year hiatus, Interfirst said it had reinvented itself as a tech-forward mortgage lender.

Mortgage 365

Mortgage Loan Officers Retail Technology 365

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 350

Mortgage Loan Officers Retail Training 350

Housing Wire

DECEMBER 11, 2023

Not surprisingly, affordability is inextricably linked to fair housing , as fair housing (and lending) for all is foundational to affordability for all. According to the CFPB, hundreds of loan officers at BofA failed to ask mortgage applicants demographic questions and falsely reported that they had chosen not to respond.”

Real Estate Agent 420

Real Estate Agent Real Estate Agents Lending 420

Housing Wire

FEBRUARY 10, 2022

If you’re a mortgage loan officer with a decade of experience in the industry, you have likely spent over 80 hours taking continuing education courses. Tricky situations can arise in mortgage lending, especially when navigating less-common products or originating non-agency loans.

Loan Officers 356

Loan Officers Law Training Lending 356

Housing Wire

SEPTEMBER 29, 2020

As the Fed pulls out all the stops to stimulate economic activity, mortgage rates have reached record lows. This sounds like great news for lenders, for whom millions of newly refi-eligible mortgages means a lot of new business coming in. Right now, while things are good, invest in cross-training your staff.

Lending 404

Lending Loan Officers Business Investors 404

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 389

Mortgage Loan Officers Finance Investors 389

Housing Wire

AUGUST 31, 2020

Indecomm approaches automation by looking at practical applications for the technology across the entire mortgage lifecycle, using a framework called the automation continuum for mortgages. State of Mortgage Automation. Indecomm’s Automation Continuum. That is where supervised automation comes in.”.

Lending 404

Lending Technology Tools Training 404

Housing Wire

OCTOBER 22, 2020

Frankly, what will be left in the refi market will likely be harder credit quality transactions that a hungry mortgage origination industry will turn to as volumes drop. Here are some expectations and recommendations: First , the refi/purchase mix should be carefully evaluated down to the loan officer level. Conclusions ?

Mortgage 389

Mortgage Training Contracts Loan Officers 389

Housing Wire

JULY 25, 2023

What does the top-producing lending officer (LO) in the country have to say to other mortgage lenders? More critical than training on skills is training on having a strong mindset,” said Matt Weaver. for purchase mortgage origination, and he is taking the stage at HW Annual. Mindset is everything.

Real Estate Agent 260

Real Estate Agent Mortgage Real Estate Training 260

Housing Wire

AUGUST 1, 2023

When the Federal Reserve slashed interest rates to zero on March 15, 2020 and set off an extraordinary real estate boom, Rocket Mortgage was ready. But more than 80% of Rocket’s volume during those years came from refinancings, data from Inside Mortgage Finance (IMF) showed. Its parent Rocket Companies rode the wave to a stunning $9.4

Loan Officers 357

Loan Officers Retail Real Estate Agent Real Estate 357

Housing Wire

MAY 2, 2022

Six months ago Interfirst Mortgage Co. issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more than half of Interfirst’s entire staff. The workforce reduction is also focused on mortgage loan production. Presented by: Acra Lending.

Human Resources 360

Human Resources Loan Officers Retail Training 360

Housing Wire

JUNE 10, 2022

Lenders and mortgage tech companies have been cutting costs in the down market , but some firms have hired new executives who they hope will provide better strategies to navigate the shrinking loan origination market. For wemlo, his primary focus is to enhance the existing loan processing platform to improve user experience.

Marketing 374

Marketing Real Estate Agent Lending Real Estate 374

Housing Wire

JANUARY 14, 2022

While layoffs sweep the mortgage industry, particularly consumer-direct lenders, non-qualified mortgage (non-QM) lenders are going on a hiring spree. Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Riches in the niches. trillion in 2022.

Lending 329

Lending Loan Officers Real Estate Mortgage 329

Housing Wire

JANUARY 24, 2023

United Wholesale Mortgage ‘s (UWM) aggressive moves to gain an edge on the competition tend to provoke controversy. LO compensation Regulation Z under the Truth in Lending Act protects Americans when they use consumer credit. Ultimately, they would be denied access to mortgages. It quickly prompted antitrust lawsuits.

Lending 348

Lending Law Legal Training 348

Housing Wire

NOVEMBER 2, 2023

HousingWire recently spoke with Mack Walker, SVP of capital markets at Deephaven Mortgage , about how the year went for the non-QM sector and what’s in store for the industry in 2024. Mack Walker: The non-QM sector is similar to other sectors in the mortgage space that endured headwinds throughout 2023 relative to volume in past years.

Investors 389

Investors Real Estate Lending Loan Officers 389