Housing Wire

MAY 2, 2022

issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more than half of Interfirst’s entire staff. Presented by: Acra Lending. The company reduced its origination to $2 billion in 2016 before shutting down altogether in 2017.

Human Resources 381

Human Resources Loan Officers Retail Training 381

Housing Wire

JANUARY 12, 2023

In this case, the alleged redlining occurred from 2017 through at least 2020 in Los Angeles. . This followed the hiring of Vanessa Montañez to the newly created role of Community Lending National Sales Manager last fall. . billion in mortgage loans over the last 12 months through about 70 loan officers and 268 branches.

Advertising 379

Advertising Loan Officers Mortgage Lending 379

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.

Mortgage 381

Mortgage Loan Officers Retail Technology 381

Housing Wire

APRIL 12, 2021

Business credit report provider Credit Plus announced last week it has integrated with LendingWise , an LOS-software platform serving commercial lending. The move establishes Credit Plus in the commercial and private money lending spaces. “In

Property Taxes 236

Property Taxes Lending Loan Officers Business 236

Housing Wire

NOVEMBER 23, 2022

Over the last year, it has also sold off large chunks of the business – including sub-servicing with ServiceMac and delegated correspondent to Planet Home Lending – which accounts for several thousand workers transitioning to new firms. billion in 2012, the company decided to shutter its business in 2017.

Marketing 379

Marketing Loan Officers Business Mortgage 379

Housing Wire

APRIL 25, 2022

It has about 350 loan officers and roughly 100 retail branches. . First Choice brought to CrossCountry retailer Costco ’s mortgage program, which connects the big box retail giant’s members with a select list of lenders and offers a discount on the lending fees.

Retail 382

Retail Loan Officers Mortgage Lending 382

Housing Wire

MARCH 5, 2021

In the announcement, UWM said that the decision came in response to Rocket Mortgage and Fairway participating in actions including soliciting loan officers away from brokers and working directly with real estate agents to cut brokers out of the entire process, a narrative that is far from new.

Mortgage 498

Mortgage Marketing Real Estate Agent Loan Officers 498

Housing Wire

OCTOBER 13, 2021

The company ceased operations in July 2017 after years of declining volumes. Last year, Interfirst relaunched its services with a new proprietary loan origination technology platform. It’s also made a push to hire teachers and first responders to be loan officers. The originations went from $14.1

Mortgage 349

Mortgage Investors Investing Technology 349

Housing Wire

DECEMBER 16, 2021

The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. Godin made plans to relaunch the business in late 2019 as a tech-forward lender that originated loans across both wholesale and retail channels. 375% below the market.”

Mortgage 369

Mortgage Loan Officers Retail Training 369

Housing Wire

MAY 3, 2022

” Prospective borrowers can talk to a licensed loan officer if they prefer during the approval process, however. In a traditional home equity product, the lender disburses a lump sum upfront to the borrower, who then pays the loan back in fixed-rate installments.

Renovations 393

Renovations Loan Officers Technology Mortgage 393

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan.

Lending 392

Lending Real Estate Agent Loan Officers Retail 392

Genworth MI Blog

MAY 28, 2020

Remember when loan officers avoided underwriting loans for manufactured housing for fear of low commissions, foreclosure risks, and the added complexities of underwriting those types of “unreliable” homes? The 2017 Manufactured Housing Facts report by the Manufactured Housing Institute indicates that 9% of new U.S.

Construction 148

Construction Loan Officers Training Lending 148

Housing Wire

OCTOBER 9, 2020

As recently as 2017, it was over 50%. ” For Gary Malis, chief financial officer of Paramount Residential Mortgage Group , the complexities in modeling right now are dizzying, especially when accounting for servicing and PIWs (property inspection waivers). Do you throw out the baby with the bathwater?

Marketing 370

Marketing Investors Technology Loan Officers 370

Housing Wire

JULY 13, 2021

OriginPoint has a Chicago address, and it is actively looking for loan officers, according to OriginPoint’s website. Guaranteed Rate and Realogy teamed up for a mortgage origination joint venture when the pair launched Guaranteed Rate Affinity in 2017. Guaranteed Rate has a similar JV with Realogy.

Brokerage 294

Brokerage Real Estate Agents Clients 294

Housing Wire

MAY 7, 2023

2017 99,880 2016 88,105 2015 94,101 As you can see in the chart below, new listing data is very seasonal; we don’t have much time to get some more growth here. Since the entire marketplace is keeping an eye out on credit getting tighter, I will be watching the Senior Loan Officer Opinion Survey on Bank Lending Practices on Monday.

Inventory 483

Inventory Housing Market Marketing New Listings 483

Genworth MI Blog

MAY 28, 2020

Remember when loan officers avoided underwriting loans for manufactured housing for fear of low commissions, foreclosure risks, and the added complexities of underwriting those types of “unreliable” homes? The 2017 Manufactured Housing Facts report by the Manufactured Housing Institute indicates that 9% of new U.S.

Construction 78

Construction Loan Officers Training Lending 78

Housing Wire

JUNE 2, 2023

District Court for the Eastern District of Pennsylvania , ESSA “failed to provide mortgage lending services and did not serve the credit needs of majority-Black and Hispanic neighborhoods in the Philadelphia metropolitan area” from 2017 to 2021. According to a complaint filed by DOJ in the U.S. It is simply the right thing to do.”

Lending 300

Lending Advertising Design Loan Officers 300

Housing Wire

JUNE 24, 2021

As the market moves into a post-refi-boom era, loan officers face tough competition for purchase loans. HousingWire recently spoke with William Tessar, president of Civic Financial Services , about the private lending space and how LOs can benefit from serving real estate investors. .

Real Estate 418

Real Estate Investors Lending Loan Officers 418

Housing Wire

AUGUST 20, 2021

Griffin Funding was the fastest housing sector grower in 2017. Lending Heights ( 592% growth) President Jason Cecco said his focus was on “empowering our team members to thrive, which leads to the best customer experience.”. Aaron Strawn, senior loan officer at Ruoff Mortgage (294% growth) pointed to his company’s leadership. “We

Real Estate 442

Real Estate Realty Brokerage Mortgage 442

Housing Wire

SEPTEMBER 10, 2022

Mike Kortas, the controversial CEO and co-founder who himself is no stranger to starting online scraps, said other community members, including smaller brokers and AIME’s leaders, have attacked him, his company and loan officers on social media. NEXA, founded in 2017 by Kortas , is a fast-growing mortgage brokerage.

Brokerage 404

Brokerage Loan Officers Retail Mortgage 404

Housing Wire

AUGUST 31, 2023

And as a loan officer (LO), why should I care? A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. The original appraisal waiver solutions were launched in August 2017. How do the solutions work? Why do we need them?

Modernization 386

Modernization Appraisal Inspection Valuation 386

Housing Wire

AUGUST 31, 2022

The first category is real estate credit, which covers most establishments focused on lending with real estate as collateral. The second category is mortgage and non-mortgage brokers, which includes establishments that facilitate lending by bringing borrowers and lenders together. Source: Nationwide Multistate Licensing System.

Lending 382

Lending Mortgage Real Estate Loan Officers 382

Housing Wire

MAY 16, 2022

Mortgage executives, consultants and loan officers had forecast that players who perform well with purchase mortgages – or in other words, get closer to the borrower – are better positioned in the downmarket. “The While purchase lending posted an all-time high of $1.7 Cooper ($658 million) and Ocwen ($58 million).

Mortgage 381

Mortgage Lending Business Finance 381

Appraisal Today

MAY 10, 2024

The mortgage loan officer handling the loan? This initiative was subsequently reaffirmed in the issuance of VA Circular 26-17-18 in July 2017. In more recent downturns, such as during the 2008 recession, many foreclosures were due to bad lending. Was it the borrower? A Zillow Zestimate?

Reconsideration of Value 71

Reconsideration of Value Appraisal Real Estate Insurance 71

Housing Wire

AUGUST 22, 2022

The lender approved their application for a loan with a 2.25% interest rate, with a “conservative” estimated value of the house at $550,000, pending approval. In 2017, the couple bought the four-bedroom, fully detached single-family home at 209 Churchwardens Road for $450,000. Racial discrimination has been deeply rooted in the U.S.

Appraisal 370

Appraisal Loan Officers Valuation Finance 370

Housing Wire

MARCH 29, 2022

The three agencies in charge of such reviews — the Federal Reserve , the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency — have not denied a single bank merger in 15 years. And HUD can bring lawsuits claiming bias in mortgage lending. The law also required banks to lend within their communities.

Lending 370

Lending Government Law Mortgage 370

Appraisal Today

OCTOBER 14, 2022

While that number may seem high to some, in the context of lending and property complexities, that is a 54% improvement in performance cited earlier in this article (from 35% 10 years ago). I can see why loan officers, real estate agents, or buyers might push back on appraisers’ conclusions. Is there room for more improvement?

Appraisal 52

Appraisal Insurance Real Estate Business 52

Clear Capital

SEPTEMBER 29, 2021

” This has been a very hot and important topic within the lending space for the last year or so, we’ve talked about it on this podcast before Kenon. And then in 2017, the thing that just kind of kept p **g me off was that homeownership rates just kept dropping. My professional background is out of finance and lending.

Sellers 69

Sellers Agents Real Estate Buyers 69

Housing Wire

FEBRUARY 7, 2022

A spokesperson for HUD said the agency could not discuss investigations or strategy of fair lending enforcement, but said that fair lending is a priority of the Biden-Harris Administration and HUD. In August, HUD Secretary Marcia Fudge signed an agreement with the Federal Housing Finance Agency to strengthen fair lending enforcement.

Insurance 369

Insurance Modernization Lending Mortgage 369