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Nonbank lender job cuts could shorten the market downturn

Housing Wire

The current market downturn for mortgage lenders may be shorter than the previous cycles, mainly due to the recent rounds of workforce layoffs imposed by nonbanks. Nonbanks have more than 60% market share of mortgage industry production — and they are more likely than banks to move quickly to reduce capacity.

Marketing 379
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Guaranty Home Mortgage hires EVP to expand retail channel

Housing Wire

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. After being sold to frequent bank investor Gaylon Lawrence in January 2019, the business name changed to Guaranty Home Mortgage Corporation.

Retail 381
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Guaranteed Rate’s Larry Steinway makes the jump to Revolution Mortgage

Housing Wire

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. He then transitioned to PHH Home Loans in 2001 for an in-house lending stint, a role he stayed in for about nine years.

Mortgage 369
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A look behind this year’s Tech100 winners

Housing Wire

News just broke that private equity investor LLR Partners announced strategic investments in two mortgage technology companies — Mortgage Coach and Sales Boomerang ( click here for article ). LLR is not a newcomer to mortgage technology or the overall fintech market. “Hey Clayton …” and a link. In 2016 LLR led a $26.5 We must innovate.

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Where are mortgage rates headed?

Housing Wire

Even with rates in the mid-7s, there are bidding wars in dozens of markets across the country. And it is challenging to pin down given the surprising twists in the economy and real estate markets, which have “befuddled economists’ forecasts this year.” When asked why U.S. over the 1971 – 2021 period.

Mortgage 370
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Some mortgage companies expanding despite challenges

Housing Wire

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. While many lenders laid off some of their staff to cut costs, others continue opening offices to capitalize on demand from homebuyers.

Mortgage 382
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Opinion: Solutions to restore housing as an economic growth engine

Housing Wire

Action must be taken to provide adequate credit access to homebuyers and encourage the housing market to expand opportunities for American households. in 2001 to 44.8% Housing costs, particularly at the bottom of the market, have skyrocketed with a limited supply of housing and a severe shortage of construction workers.

Insurance 382