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DataDigest: There are too many real estate agents and LOs. It’s a problem

Housing Wire

You know what loan officers and real estate agents love almost as much as cashing a commission check? Complaining about other loan officers and real estate agents. million Realtors competing for about 4.2 And nearly 50% of agents worked fewer than 40 hours per week.

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The LO edge in 2022? Realtors, Realtors, Realtors

Housing Wire

The key to winning purchase business in 2022 remains as it was in 2021, the year before that, and the year before that – building and maintaining relationships with real estate agents. I think it’ll be a broken record but Realtors, Realtors, Realtors,” emphasized Rafael Montano, an LO at Rocket Mortgage.

Realtors 400
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Nations Lending, Carpenter Realtors launch Commitment Mortgage

Housing Wire

Full-service mortgage lender Nations Lending and local Indiana real estate firm Carpenter Realtors launched a joint venture, Commitment Mortgage , in order to offer an end-to-end experience — from finding a home to closing a loan in a cooled-down housing market. “We trillion, according to the Mortgage Bankers Association.

Lending 322
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Opinion: Sitzer/Burnett decision presents an uncertain future for buyer agents

Housing Wire

Real estate agents are facing a contracting issue that could seriously upend the traditional housing landscape. No matter what it looks like, buyer agents will be working for less and this is where trailing risk for loan officers comes in. But loan officers now have a new value add for listing agents.

Agents 395
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Finaya Unifies Home Buying and Selling, Mortgage, Insurance, Title and Closing Services

Appraisal Buzz

Technology firm Finaya has launched an AI-based homeownership marketplace super-app that integrates home buying and selling, mortgage, insurance, title, closing and other related services supported by a marketplace of on-demand realtors, loan brokers, lenders and service providers.

Insurance 195
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Rocket Mortgage plans to hire 500 remote LOs by the end of 2023

Housing Wire

Though its overall mortgage strategy has apparently not changed, Rocket Mortgage is undoubtedly ramping up its initiative to hire local loan officers to win purchase business. Kostegian’s comments offer insight into the scope of Rocket’s remote local loan officer program. I know Rocket Homes has been happy to see it.

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

Housing Wire

Its centralized call center business model, which Rocket relied upon to dominate an unprecedented refi market , isn’t as durable when interest rates are high, there are few refi opportunities and having strong relationships with real estate agents is what brings home the bacon. And Rocket is well aware.