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Will mortgage lending get tighter in the next recession?

Housing Wire

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collapsed. The short (and long) answer is no, not a chance.

Lending 485
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Glenn Stearns’ Kind Lending originates $1B in 6 months

Housing Wire

Kind Lending , national wholesale mortgage lender and second brainchild to mortgage veteran Stearns, announced that the lender originated $1 billion in the first six months of production – a feat that took Stearns first company, Stearns Lending , 15 years to accomplish. We are thrilled to introduce Kind Lending to the world.

Lending 370
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American Pacific Mortgage names Bill Lowman chairman of the board

Housing Wire

Lowman has been with the lender for more than 21 years starting from managing a founding branch to being promoted as president in 2004, CEO in 2017 and vice chairman earlier in 2023. “I I look forward to driving APM forward in the new year and turning the challenges into opportunities in 2024 and beyond,” Lowman said.

Retail 421
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Homestar names Gurp Bhandal EVP of national production

Housing Wire

Prior to HOMESTAR, he served as the executive vice president of retail production at AmeriSave Mortgage Corporation and area lending manager roles at Citi. Other members include Jeff Waggoner, who joined in 2004 and currently leads over 158 employees, including 92 MLOs in 41 branch locations.

Retail 409
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Cherry Creek Mortgage Promotes Nicole McCrary to VP of Compliance

Appraisal Buzz

She joined Cherry Creek Mortgage in 2004 as a loan officer assistant. In her new role, McCrary will oversee quality control risks, consumer complaints and fair lending. She was previously assistant vice president of quality control. Since then, she has advanced into processing, customer support and compliance roles.

Mortgage 195
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Finance of America to acquire Parkside’s wholesale biz

Housing Wire

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. It’s the latest in a string of big M&A deals in the mortgage lending space – and the growing wholesale channel in particular – over the past six months.

Finance 370
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Angelo Mozilo, the ‘face of the financial crisis,’ dies at 84

Housing Wire

He gained full control of the company in 2000, after Loeb’s retirement, and put it in growth mode, becoming the largest mortgage provider in America by 2004, surpassing Wells Fargo and Washington Mutual. Mozilo was president of the Mortgage Bankers Association (MBA) in 1991-1992. And they did it at a massive scale.

Lending 370