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Lone Peak Lending joins Panorama Mortgage Group

Housing Wire

Nonbank lender Panorama Mortgage Group has added Texas-based Lone Peak Lending to its growing stable of brands. Lone Peak is the fourth lender to join Panorama this year, following the additions of Utah-based Rely Home Loans , Texas-based Prosperity Mortgage and Oregon-based Vision Mortgage Group.

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The Similarities Between 2007 and Today

Appraisal Buzz

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. As appraisers, we faced tremendous pressure from buyers, sellers, real estate agents, and loan officers during the previous run-up.

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Point Mortgage Corp. exits wholesale channel (for now)

Housing Wire

California-based Point Mortgage Corporation has decided to shut down its wholesale business GoPointDirect and lay off employees to focus on retail lending, a top executive confirmed to HousingWire. . “Our industry is saturated with Realtors and loan officers.

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Mortgage lenders are loosening standards on jumbos

Housing Wire

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. Overall, feedback from participants – 75 domestic banks and 22 U.S.

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Guild CEO Mary Ann McGarry announces retirement

Housing Wire

McGarry joined Guild in 1984 as a supervisor in internal audit and held several leadership positions until promoted to president in 2005 and CEO in 2007. Guild’s executive vice president David Neylan, who joined the company in 2007, will replace Schmidt as president. He will continue as Guild’s chief operating officer.

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Redfin acquires Bay Equity, pink slips 121 staff

Housing Wire

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing.

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How LOs are dealing with a mortgage rate lockdown

Housing Wire

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. That’s going to be a new market for me Lonnie Glessner, loan officer at Draper and Kramer Mortgage Corp.

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