Housing Wire

JANUARY 26, 2023

Two months after receiving the Federal Reserve ’s approval to merge with New York Community Bank, Michigan-based Flagstar Bank is reducing its footprint in the retail channel and laying off hundreds of staffers, according to laid off employees. “I The company offered severance payments based on tenure and job position.

Retail 450

Retail Mortgage Lending Finance 450

Appraisal Buzz

JUNE 10, 2021

After experiencing strength in distributed retail originations, national lender adds 20-plus-year veteran to its team to lead its Distributed Retail Sales Division. The post Planet Home Lending Adds Caleb Mittelstet to Grow Retail Channels appeared first on theMReport.com.

Retail 284

Retail Lending Appraisal 284

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 The acquisition also diversifies NYCB’s portfolio with warehouse lending business, commercial and industrial loans, commercial real estate loans and residential mortgage loans.

Retail 360

Retail Mortgage Lending Business 360

Housing Wire

OCTOBER 25, 2023

to suspend retail operations. The Gainesville, Georgia-based lender announced plans to cease retail operations while accepting mortgage locks through Oct. The decision to shut down retail operations comes on the heels of additional mortgage volatility driven by the macro economy, Homestar said in a statement.

Retail 393

Retail Mortgage Government Marketing 393

Housing Wire

MARCH 6, 2023

Guaranty Home Mortgage Corporation (GHMC) on Monday announced its expansion with three new licensed retail branches in Tennessee. 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.

Retail 397

Retail Mortgage Lending Technology 397

Housing Wire

JANUARY 19, 2023

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retail lending. Voyles will be responsible for growing the retail division overseeing sales, operations and marketing as well as building on the existing framework, the company said Wednesday.

Retail 370

Retail Mortgage Loan Officers Lending 370

Housing Wire

SEPTEMBER 7, 2023

The Atlanta-based lender has fully exited the retail channel, a change in strategy the company has been preparing for over the past few months. EPM’s CEO Eddy Perez had previously shared plans with HousingWire to double down on wholesale while scaling down its retail footprint. It’s all about the consumer. EPM originated $1.05

Retail 395

Retail Loan Officers Business Lending 395

Housing Wire

JUNE 13, 2023

This has resulted in the company closing branches and laying off loan officers on the retail side. “We still have retail, but we do believe that wholesale has the longest runway of growth and opportunity for us.” “Wholesale is growing. It’s a shift that is happening in the market.

Retail 369

Retail Loan Officers Landlords Lending 369

Housing Wire

JUNE 15, 2021

Non-QM lender Sprout Mortgage is setting up a distributed retail operation, and it’s picked a veteran of Wells Fargo to lead the new division. Sprout hired former Wells Fargo executive Michael Johnson to expand Sprout’s consumer and retail sales channel, the company said Tuesday.

Retail 365

Retail Mortgage Legal Lending 365

Housing Wire

NOVEMBER 22, 2023

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. The profitable lending business has more than a 50% contribution margin, he said in a meeting.

Lending 388

Lending Valuation Technology Retail 388

Appraisal Buzz

AUGUST 16, 2021

The post Josh Lehr: Retail Lending vs. Direct: Leveraging Multiple Channels to Create Customers for Life appeared first on Appraisal Buzz.

Retail 370

Retail Lending Technology Mortgage 370

Housing Wire

FEBRUARY 7, 2023

The company has 39 active loan officers across its retail branches, according to Modex data. Clients will also benefit from access to new digital and customer relationship tools that improve every step in the lending experience, including servicing, a Guild strength for decades,” Thompson said in prepared remarks.

Retail 384

Retail Mortgage Loan Officers Technology 384

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. Production declined 25% to $5.49 billion in 2022 from the previous year’s volume of $7.29

Lending 374

Lending Business Retail Client Relationships 374

Housing Wire

SEPTEMBER 29, 2022

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

Retail 432

Retail Finance Home Improvement Business 432

Housing Wire

OCTOBER 7, 2022

Guaranteed Rate this week walked away from negotiations to acquire Finance of America ’s forward mortgage retail channel, which may result in FoA closing the division, sources with direct knowledge of the negotiations told HousingWire. FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

Retail 374

Retail Finance Home Improvement Mortgage 374

Housing Wire

NOVEMBER 10, 2022

Angel Oak Home Loans will exit its retail distribution channel following a sale of its retail offices to an unknown lender and servicer. The transaction includes an acquisition of Angel Oak Home Loans’ brick-and-mortar retail offices and associated salesforce.”. Details of the deal were not disclosed. .

Retail 305

Retail Loan Officers Investors Lending 305

Housing Wire

JULY 13, 2023

Non-qualified mortgage (non-QM) lender NewFi Lending has launched a correspondent lending channel at a time when originators are fighting to grab production volume. “Non-QM Correspondent lending is also a relatively bright spot for a mortgage industry that’s suffered from low origination volume. from Q4 2022.

Lending 360

Lending Realtors Retail Mortgage 360

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. Expected to close around Oct. billion in assets, the companies claim.

Lending 328

Lending Retail Legal Loan Officers 328

Housing Wire

MARCH 3, 2022

Meanwhile, Steve Runnels will hold the role of vice president of retail sales, east division. In his new role, Wright will be responsible for amplifying the growth of the company’s retail division. Meanwhile, lenders’ margins are under pressure, mainly in the retail channel. UHM’s origination volume increased 25.8%

Retail 321

Retail Mortgage Development Business 321

Housing Wire

AUGUST 30, 2022

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. Founded in 1990, Mountain will continue to serve retail and consumer direct clients throughout the Western United States.

Lending 421

Lending Retail Mortgage Clients 421

Housing Wire

JANUARY 26, 2023

California-based lender American Pacific Mortgage (APM) announced an asset purchase agreement with retail lender Lend Smart Mortgage on Thursday in its latest move to drum up production across the country. APM bought assets that include about 25 branches from the Minnesota retail lender Lend Smart.

Lending 366

Lending Retail Loan Officers Mortgage 366

Housing Wire

MARCH 16, 2022

Tech-fueled retail mortgage lender InstaMortgage has merged with mortgage broker shop All Cal Financial , a rare example of a top-performing brokerage switching channels. As part of the merger, Jim Black, the founder of All Cal, will become chief lending officer of InstaMortgage.

Retail 390

Retail Loan Officers Brokerage Technology 390

Housing Wire

JANUARY 5, 2021

In a statement confirming the deal Tuesday afternoon, Guaranteed Rate said the acquisition of Stearns would enable a boost in retail loan originations and further scale its JV platform, while also developing “new multichannel capabilities.” The post Guaranteed Rate to acquire Stearns Lending appeared first on HousingWire.

Lending 538

Lending Retail Real Estate Agent Brokerage 538

Housing Wire

JUNE 23, 2023

HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief innovation officer at Legend Lending. In April of 2022, the retail division of Mid America Mortgage, Inc. was acquired by Legend Lending Corporation. I was then promoted to chief innovation officer of Legend Lending Corporation.

Lending 338

Lending Retail Technology Mortgage 338

Housing Wire

JUNE 23, 2023

HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief inspiration officer at Legend Lending. In April of 2022, the retail division of Mid America Mortgage, Inc. was acquired by Legend Lending Corporation. I was then promoted to chief innovation officer of Legend Lending Corporation.

Lending 329

Lending Retail Technology Mortgage 329

Appraisal Buzz

MARCH 29, 2024

Andy Insua has joined Planet Home Lending as regional sales manager for the Southeast. Planet Home Lending is part of a fully integrated family of companies with a solid financial foundation, innovative products, and exceptional leadership,” Insua says in a release.

Lending 195

Lending Retail Finance Clients 195

Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The survey, fielded quarterly by the central bank, asks loan officers about topics such as changes in lending terms as well as household demand for loans.

Lending 437

Lending Mortgage Loan Officers Government 437

Housing Wire

JANUARY 24, 2022

Stearns Lending will lay off 348 workers following the decision by Guaranteed Rate earlier this month to discontinue operations of its third-party wholesale channel. Founded in 2000, Guaranteed Rate sought to boost retail loan originations, scale its JV platform, and develop new multichannel capabilities by acquiring Stearns.

Lending 367

Lending Retail Loan Officers Business 367

Housing Wire

MARCH 15, 2021

What happens when borrowers can’t or won’t walk into a lending branch? HousingWire recently sat down with Insellerate CEO Josh Friend to discuss that very question and what strategies retail lenders should look to adopt from direct-to-consumer lending. Retail lenders originate loans through their in-person retail branches.

Lending 394

Lending Retail Mortgage Loan Officers 394

Appraisal Buzz

MAY 18, 2021

Stephen Adamo has joined Embrace Home Loans as president, national retail production. In that role, he had direct oversight of all aspects of residential home lending, including production, portfolio administration, secondary marketing, servicing and loan operations.

Retail 370

Retail Lending Appraisal Mortgage 370

Housing Wire

AUGUST 15, 2022

In the face of a declining mortgage market and heightened regulatory scrutiny, Wells Fargo , the country’s largest depository mortgage lender by volume, is planning for a smaller footprint in correspondent lending and third-party servicing business. billion with both retail declining to $19.6 appeared first on HousingWire.

Lending 370

Lending Business Finance Retail 370

Housing Wire

JULY 11, 2022

As Wells Fargo contemplates a smaller footprint in mortgage, the nation’s fourth-largest bank named Kleber Santos as chief executive officer of consumer lending. Before Wells Fargo, he worked for Capital One for 15 years in different positions, including as retail and direct banking president. .

Lending 368

Lending Retail Business Mortgage 368

Housing Wire

MAY 2, 2024

Potempa mainly focuses on the government lending space, which represents 60% of his total volume, he said. In February, it announced the hiring of James Hecht , former head of production and executive vice president for national retail lending at Newrez , as its CEO. .” According to Scotsman Guide , Potempa was the No.

Loan Officers 335

Loan Officers Mortgage Retail Lending 335

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 354

Lending Business Retail Finance 354

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Nichols pointed out that after the 2008 financial crisis, wholesale lending began using technology that helped match pace with the processes of retail lenders. I mean we’re talking up to 30 years,” Nichols said.

Retail 369

Retail Mortgage Loan Officers Marketing 369

Housing Wire

AUGUST 17, 2021

He also provided details on “pricing adjustments” from Fannie Mae and Freddie Mac that have dinged some nonbank lenders of late, when top-performing retail LOs will make the switch to the broker channel, and why its competitors will suffer greatly once rates climb. This content is exclusively for HW+ members. Already a member?

Retail 370

Retail Mortgage Lending 370

Housing Wire

NOVEMBER 13, 2020

McGuiness brings more than 30 years of experience in the mortgage lending space to the company, most recently serving as the chief sales officer at Embrace Home Loans. Planet Home Lending rounds out this week’s People Mover announcements, tapping Michele Kryczkowski as senior vice president, national fulfillment.

Lending 438

Lending Mortgage Retail Legal 438