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Interfirst Mortgage raises $175 million

Housing Wire

Chicago-based mortgage originator Interfirst Mortgage Co. has raised $175 million to accelerate growth and fund new technologies , just 16 months after relaunching its operations. Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011.

Mortgage 368
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Interfirst Mortgage to lay off nearly 50 LOs

Housing Wire

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 383
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Guaranteed Rate acquires DTC lender Owning Corporation

Housing Wire

Fresh off its acquisition of Stearns , Guaranteed Rate has picked up Owning Corporation , a direct-to-consumer mortgage lender. According to Guaranteed Rate, Owning’s direct-to-consumer platform processed over $20 billion in total loan volume in 2020. According to the NMLS, Owning has 62 loan officers and was formed in 2018.

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Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

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 370
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Interfirst to lay off 140 employees

Housing Wire

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.

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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 382
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Clear Capital and ICE Mortgage Technology Expand Partnership to Support Adoption of Modern Appraisal Programs

Clear Capital

Through this integration, Clear Capital will deliver an improved user experience for mortgage lenders and loan officers ordering products that support appraisal modernization, such as Universal Data Collection (UDC ) , Desktop appraisals and Hybrid appraisals. To learn more about Encompass, visit [link].