Housing Wire

JULY 22, 2022

Founded in 2008, Live Oak Bank has a digital, cloud-based bank serving small business owners in all 50 states. Crawford, a former pro football player, founded distributed retail nonbank Movement Mortgage in 2008. Crawford said he joined the board of directors of Live Oak to transform “the way banking is done.”.

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Housing Wire

APRIL 27, 2023

“I’ve always been passionate about helping loan officers grow their business to serve more families in our communities. After launching his career at UBS in New York City, Yeager returned to the Pacific Northwest to open his own brokerage, which merged with Cobalt Mortgage in 2008.

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Housing Wire

MAY 25, 2023

Few loan officers make the purchase product a main part of their business. Additionally, because HECM /Reverse for Purchase did not exist until late 2008, many don’t fully understand the value propositions the product poses. “We Real estate agents, loan officers and builders can attract customers they have never captured before.

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Housing Wire

NOVEMBER 10, 2022

“We want to grow,” Casey Crawford , a former pro football player who founded distributed retail nonbank Movement in 2008, said in a statement to HousingWire. Movement says it employs more than 1,500 loan officers nationwide and has over 550 branches.

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Retail Mortgage Loan Officers Legal 370

Housing Wire

MAY 26, 2022

While financial institutions are taking note of the increased attention for ARMs, some loan officers said many consumers think the cost to get ARMs is not worth the risk compared to a 30-year mortgage rate. But when rates began to soar starting in 2005, increased foreclosure rates led to a housing market crash in 2008.

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Housing Wire

FEBRUARY 7, 2024

Hardiman first joined Embrace Home Loans in 2008 as a project manager, the news release stated. “We have an outstanding team at Embrace, and I’m looking forward to contributing to our growth and our community-focused initiatives. It’s a great honor, and I’m eager to lead us into this new chapter.”

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Project Management Retail Lending Mortgage 410

Housing Wire

DECEMBER 15, 2023

Founded in 2008, Movement says it has over 4,500 employees across 775 locations in all 50 states. The company claims Summit, founded in 1995 by Scrima, “had fewer than 200 loan officers until Scrima engaged in a desperate and unlawful scheme to copy Movement’s successful business model.”

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Housing Wire

AUGUST 2, 2021

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.

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Mortgage Lending Government Loan Officers 473

Housing Wire

APRIL 4, 2022

Founded in 2008, Movement Mortgage focuses on providing loans quickly and easily to homebuyers, with a network of loan officers in more than 775 locations nationwide, and more than 4,500 employees, the company’s website shows. Movement did not respond to multiple requests for comment.

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Mortgage Supply Chain Retail Loan Officers 450

Housing Wire

AUGUST 31, 2021

When Rich Weidel took over his family-owned lender Princeton Mortgage , the company had funded 11 loans in January of 2018, employed about a dozen people and had zero loan officers. ” We looked at from 2008 to 2018, what companies had achieved and grown, and we said, let’s go do it.

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Housing Wire

NOVEMBER 23, 2021

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. Among those getting a pink slip are 49 loan officers, 10 national account managers, seven retail sales managers and seven transaction coordinators.

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Mortgage Loan Officers Retail Technology 384

Housing Wire

NOVEMBER 23, 2022

While Interfirst Mortgage has not responded to requests for comment, positions affected by the layoff included a closer, processor, business analyst and loan officers, according to former employees’ LinkedIn posts. “As Since relaunching operations, Interfirst also hired teachers and first responders to be loan officers.

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Marketing Loan Officers Business Mortgage 384

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based They’re trying to protect their portfolios and make good loans. based think tank Urban Institute to hear their takes.

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Loan Officers Insurance Mortgage Real Estate Agent 370

Housing Wire

JUNE 5, 2023

Mortgage brokers emerged as key players in the industry in the 1980s because they offered access to multiple lenders and loan products. Up until the financial crisis in 2008, mortgage brokers held nearly 50% market share. Now, they are sitting at 22% and climbing, because they offer the most loan options to borrowers.

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Housing Wire

MARCH 11, 2021

I’ve spent years asking top mortgage lending execs this question: who’s your primary customer, loan officers or consumers? It’s grey for three reasons: First, wholesale players change over full cycles — today’s top 25 wholesalers are way different than pre-2008. You long-gamers know this, but it’s just a friendly reminder.

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Loan Officers Clients Mortgage Lending 479

Housing Wire

JUNE 15, 2022

“Mortgage rates increased for all loan types, with the 30-year fixed rate last week jumping 25 basis points to 5.65% – the highest level since 2008. Multiple loan officers told HousingWire on Monday — after the MBA survey for the week had closed — that mortgage rates moved beyond 6% for even the most credit-worthy of borrowers.

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Mortgage Loan Officers Brokerage Inventory 370

Housing Wire

MAY 13, 2022

Movement Mortgage was founded in 2008 with a mission to create a “movement of change” in the mortgage industry after one of the hardest financial episodes in American history. We have a goal of increasing our market share within diverse communities along with bringing more diverse loan officers into the industry.

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Loan Officers Mortgage Design Lending 397

Housing Wire

AUGUST 7, 2020

Because as loan officers, they believe that there’s nothing better than a broker channel, and to them this is most important for their consumers,” said Kortas. “We Nichols pointed out that after the 2008 financial crisis, wholesale lending began using technology that helped match pace with the processes of retail lenders.

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Retail Mortgage Loan Officers Marketing 370

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. There’s still demand for homes, loan officers told HousingWire. “I

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Housing Wire

OCTOBER 13, 2021

Funds managed by Oaktree Capital Management , MFA Financia l, various family offices, and other strategic investors invested through a StoicLane’s special purpose vehicle, StoicLane said. Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011.

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Mortgage Investors Investing Technology 402

Housing Wire

NOVEMBER 10, 2022

It affected at least 50% of the staff, positions in operations and loan officers, according to multiple former employees. Of the total employees, 428 are active loan officers, according to mortgage software company Modex. The company has licenses in 49 states, 387 branches and 491 active loan officers.

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Mortgage Loan Officers Lending Business 370

Housing Wire

DECEMBER 3, 2021

While borrowers can shop online these days and follow an automated experience, it doesn’t equate to working with a seasoned professional loan officer and learning what to expect first-hand. Compared to 2007 and 2008 there’s more due diligence in mortgage qualifying. HousingWire : What keeps you up at night and why?

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Inventory Loan Officers Clients Mortgage 384

Housing Wire

MARCH 15, 2023

He joined Fannie Mae in the wake of the financial crisis in 2008-2009 and served as CEO from 2012 to 2018. Mortgage News Daily showed the average 30-year jumbo mortgage rates at 6.15% on Wednesday afternoon, compared to 6.55% for conventional loans. of the production was conventional loans and 49% consisted of purchase loans.

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Mortgage Loan Officers Insurance Business 370

Housing Wire

NOVEMBER 22, 2022

“Over the years, we’ve been more focused on organic growth, one loan officer at a time,” said Mike Brennan, who became Movement’s president in January 2021. Movement is owned by Casey Crawford , a former pro football player who founded the lender in 2008, and the Movement Foundation, which has a 49% share.

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Loan Officers Retail Business Mortgage 384

Housing Wire

FEBRUARY 13, 2023

Perez, who founded EPM in 2008, said he admired Jesse Iwuji’s personal story, according to the lawsuit. The company has 13 branches with 50 active loan officers, the data shows. They founded JIM in 2021 to compete in the Nascar Xfinity Series. It’s mostly known for wholesale lending.

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Housing Wire

MARCH 1, 2021

In 2006, loan officers were collecting record paydays by issuing mortgages to anyone with a pulse and a dream, underwriters were in high demand, and an army of processors were hired to help make it all happen. Not that many Americans were looking for mortgages between 2008 and 2009 anyway. Live by the sword, die by the sword.

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Mortgage Loan Officers Retail Business 367

Housing Wire

OCTOBER 28, 2022

Wendell Couch joined in 2008 and closed over $1 billion in loan production in 2021. HOMESTAR’s mortgage products include conventional, FHA, USDA, VA, jumbo, reverse, 203K, refinance and its own cash advantage, RefiNow and NATURALiving Home Mortgage loan programs.

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Cleveland Appraisal Blog

OCTOBER 14, 2021

Others have expressed concerns that we are headed for a housing crash, like in 2008. Let’s talk about the difference between today’s market and the one during the years leading up to the bursting of the housing bubble in the Great Recession of 2008. THE RISE IN HOME PRICES IN THE YEARS LEADING TO 2008. I kid you not!

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Housing Wire

JUNE 15, 2022

But this year, as rates have crested 6%, about 70% of Neat’s originations are adjustable-rate mortgages, a product that until recently had fallen out of favor due to the role they played in the housing crash of 2008 and a decade-plus of fixed-rate mortgages under 5%. . It’s not a bad thing for borrowers, lenders, and loan investors.

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Housing Wire

APRIL 12, 2021

Holmes said the new integration enables commercial and private money loan officers using LendingWise to streamline their processes and obtain a business owner’s credit report from Credit Plus – without leaving the LendingWise platform. Download this case study to find out about the integration process and the results it yielded.

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Property Taxes Lending Loan Officers Business 283

JMV Lending

OCTOBER 13, 2021

“Hey Rich, I need a $500,000 appraisal to make this refi work; there’s an extra $300 for you if you can push the value to $500,000…” That was the entire schtick of a loan officer I knew back in the day (prior to the 2008 meltdown). He was friends with an appraiser who would push […]. The post Appraisers Ain’t A.M.C’s

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Appraisal Loan Officers Lending 78

Housing Wire

JULY 26, 2023

When clients find their dream house and are ready to make an offer, Todd Armstrong’s next call isn’t necessarily to the seller’s agent or the buyer’s loan officer. “We over the past 15 years from 5.5%, but building in Moderate FHSZ has nearly doubled since 2008.

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Insurance Housing Market Marketing Supply Chain 370

Housing Wire

JULY 7, 2022

In Portland, Oregon, for example, one loan officer noted that new listings doubled in the second half of May from 800 to 1,900 new listings. After the housing crisis of 2008, many homebuilders went out of business, and for years following the recovery, building did not pick up to the level needed to accommodate demand.

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Inventory Marketing Mortgage Supply Chain 397

Housing Wire

JULY 15, 2022

This includes developing a stronger knowledge about mortgage products, origination, compliance and regulatory matters, how loan officers operate day to day and mortgage sales. Brian Gubernick : No question, the greatest learning opportunity I’ve experienced was the 2007-2008 housing market crash.

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Real Estate Realtors Brokerage Business 397

Appraisal Buzz

MAY 17, 2021

In the run-up to the 2008 market crash, appraisers were overworked and took on more than they reasonably could handle. As appraisers, we faced tremendous pressure from buyers, sellers, real estate agents, and loan officers during the previous run-up. Some appraisers are reticent to address increasing trends now.

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Appraisal Clients Real Estate Sellers 418

Housing Wire

MAY 7, 2023

didn’t go into recession until 2008. As you can see in the chart below, there is a big difference between the current housing market and those looking for a repeat of 2008. This proves that the mass supply growth we saw from 2005-2007 was due to credit stress, not because the economy was in a recession; the U.S.

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Housing Wire

FEBRUARY 11, 2021

Christensen has 17 years of mortgage industry knowledge, jumpstarting her career as a loan officer in 2003 until 2008 when she began to work with the many American families facing foreclosure due to the Great Recession. The panel will also discuss the challenges of helping bridge the homeownership gap in the wake of COVID-19.

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