Remove 2008 Remove Development Remove Insurance Remove Loan Officers
article thumbnail

These mortgage lenders are making major job cuts as production plummets

Housing Wire

“This creates a challenging environment for volume-sensitive businesses such as mortgage originators and title insurers.” It affected at least 50% of the staff, positions in operations and loan officers, according to multiple former employees. A massive job cut. billion in the last 12 months.

Mortgage 370
article thumbnail

Will new products stop the bleeding for mortgage lenders? 

Housing Wire

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. ” Just a little less vanilla. .” Homepoint has decided to pause on entering the non-QM fray.

Mortgage 395
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

PRMG’s John Ashley on cybersecurity and privacy

Housing Wire

So, we’re not little, but we’re not big, like some of these companies with 500 developers. We have a development team and so we have software developers, system analysts, business analysts, quality assurance testers, and people that manage deployments. We have smaller teams, but they’re very effective.

article thumbnail

Bridging the gaps in the home buying process

Housing Wire

Largely hidden from view and misperceived by some to be on the lower end of the hierarchy of service providers, the position seemingly lacked the luster of the real estate agent or the panache of the loan officer. During the housing crisis of 2008, the title industry suddenly emerged from obscurity into full view.

article thumbnail

ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

These policies were the result of a collaborative effort between the GSEs, the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA). The mortgage loan officer handling the loan? Was it the borrower? A Zillow Zestimate? Maybe the underwriter at the lender?

article thumbnail

Fannie Mae vs. Freddie Mac

Assurance Financial

Freddie Mac also plays a role in setting underwriting standards for the loans it purchases, working with lenders to help ensure that the loans they originate meet those standards. In the years leading up to the financial crisis of 2008 , Fannie Mae and Freddie Mac held a dominant position in the U.S. housing finance system.

article thumbnail

Winners and losers of this volatile housing market

Housing Wire

Like many loan officers, Dicker was working nights and weekends, banging out refinancings and purchase mortgages at record-low rates for clients. Less business for lenders and real estate brokerages, in return, is hurting title companies, tech vendors, appraisers and mortgage insurance firms.