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New American Funding onboards top Chicago loan officer 

Housing Wire

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

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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 Nations Lending originated $3.43

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Originators gear up for the purchase market

Housing Wire

Lenders will have to “manage expenses and improve customer service in a purchase market,” Tom Wind, executive vice president of consumer lending with U.S. One of the ways that lenders “manage expenses” has historically been by laying off processors and loan officers. The second-lowest LO turnover rate was in 2003, at 31%.

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New American Funding cofounders talk expansion, prospects for 2023

Housing Wire

Since launching as a call center in 2003, the California lender has expanded into the outside distributed retail model with a target on the purchase mortgage market, serviced its own loans and developed its tech stack in-house. Kim: NAF bought Marketplace Home Loans in 2018. Servicing is a hedge against origination.”

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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

VA’s Tidewater Initiative written in 2021 by McKissock (Similar idea as current ROV changes), effective in 2003. The mortgage loan officer handling the loan? It initially began as a test program in the early 2000s and was expanded to all areas of the country in 2003, as a result of VA Circular 26-03-11.