Housing Wire

SEPTEMBER 8, 2022

Top 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees tell HousingWire. Eliminated positions included loan officers, closers, underwriters and client advocates, according to six former employees.

Mortgage 501

Mortgage Loan Officers Clients Investing 501

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Gifoli served as a loan officer from May 2021 to October 2021. He declined to comment on the lawsuit.

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Loan Officers Legal Real Estate Lending 405

Housing Wire

OCTOBER 22, 2020

Michael Fratantoni and his staff made national news at the MBA’s annual virtual convention, releasing a projection for 2020 of $3.18 2021 is expected to show refinance volume being cut nearly in half by just over $800bb, almost 50% of 2020. Purchases in 2021 should be roughly $350bb larger than 2019, and $120bb bigger than 2020.

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Mortgage Training Contracts Loan Officers 451

Housing Wire

FEBRUARY 5, 2024

Veteran mortgage executive James Seely has sued Guild Mortgage for allegedly failing to pay $750,000 in compensation after terminating his employment for cause by “manufacturing out of whole cloth spurious claims of Mr. Seely not working full time,” according to a recently filed lawsuit. In 2020, it originated $8.5 2 in a U.S.

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Retail Contracts Loan Officers Mortgage 414

Housing Wire

DECEMBER 21, 2021

If you take the temperature of how loan officers are feeling ahead of the holiday season, the scale would likely read “uneasy.” Numerous shops, including Better.com , Interfirst Mortgage , and Freedom Mortgage have announced layoffs in the past few weeks, and some LOs worry their jobs may also be on the chopping block.

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Loan Officers Retail Business Mortgage 437

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 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. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 369

Mortgage Loan Officers Retail Training 369

Housing Wire

OCTOBER 12, 2023

Within mortgage companies, even those that have huge scale versus small scale, they’re offering really the same borrower experience and the same loan officer experience. Obviously, they’ve got some different systems to handle hundreds of loans a month versus thousands or tens of thousands. Well, then what?

Mortgage 417

Mortgage Technology Contracts Realtors 417

Housing Wire

AUGUST 1, 2022

Mortgage lender Guaranteed Rate Affinity is suing a divisional manager for allegedly orchestrating a “mass departure” to competitor Cardinal Financial Company , a violation of the employment agreement. including six regional managers, an executive assistant and a business development associate, the mortgage lender alleges.

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Loan Officers Mortgage Retail Contracts 383

Housing Wire

FEBRUARY 3, 2022

Investors have largely shunned nonbank mortgage stocks, and analysts believe the hard times are still ahead. Driven by a desire to achieve greater scale and gain access to cheaper capital, nonbank mortgage lenders dove headfirst into the public markets during the Covid-19 boom. How could they resist? Finance data.

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Mortgage Retail Finance Investors 383

Housing Wire

DECEMBER 27, 2022

The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom. over asking price.

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Housing Market Marketing Real Estate Agent Real Estate 524

Housing Wire

NOVEMBER 29, 2021

The supply-chain bottleneck afflicting the global economy has its own counterpart in the world of residential mortgage-backed securities, also referred to as RMBS. One group of industry players — loan underwriters — are the chief cause of the logjam. Securities and Exchange Commission. The private label market share of U.S.

Loan Officers 459

Loan Officers Supply Chain Mortgage Marketing 459

Housing Wire

MARCH 5, 2021

However, as Ishbia had just announced that UWM would no longer partner with mortgage brokers who also work with Rocket Mortgage or Fairway , the discussion became a broader conversation about the lenders’ overall strategy to grow broker share. ” One of those long-term plays is holding onto mortgage servicing rights.

Investors 395

Investors Real Estate Agent Loan Officers Technology 395

Housing Wire

APRIL 13, 2021

A new report from Redfin shows that homes listed midweek sell for an average of $1,700 more than homes listed on the weekend, based on homes sold above their list price from July 2020 through February 2021. And they sell faster, too. Real estate agents and LOs: the great collaboration. The advantage is smallest in Sacramento, California (0.7

Sellers 407

Sellers Buyers Real Estate Agent Real Estate 407

Appraisal Buzz

MAY 17, 2021

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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Appraisal Clients Real Estate Sellers 418

Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. Don’t drink the Kool-Aid that any contract price is reflective of market value. I remember loan officers telling me that I needed to be “creative” with my appraisals. (See TODAY’S RISING HOME PRICES.

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Inventory Market Value Appraisal Contracts 243

Housing Wire

JUNE 2, 2023

Mat Ishbia is optimistic about the mortgage market. The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ? .”

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Retail Inventory Mortgage Loan Officers 370

Housing Wire

JULY 19, 2023

The dour housing market over the past 18 months has thrust struggling independent mortgage lenders (IMBs) into what seems like a pot of water that is coming slowly to a boil. In 2020, we had none of those,” adding that they are absolutely increasing in the industry, “but that’s very hard to track.”

Mortgage 370

Mortgage Marketing Buyers Lending 370

Eppraisal

APRIL 20, 2021

According to a homebuyinginstitute.com article, in February of 2021, there were fewer home for sale than in February 2020. Have Your Financing in Order If you're in the market to buy a home in the near future, the most important item on your agenda is to have proof that you have enough cash for the purchase or are pre-approved for a mortgage.

Sellers 66

Sellers Loan Officers Inventory Home Value 66

PennyMac

APRIL 2, 2020

Though it’s possible to buy a home with cash, most homebuyers do so with the help of a mortgage. There are various types of mortgages available, with different interest rates, down payment amounts, and other terms to consider. Step 3: Get Pre-Approved for Your Mortgage. Step 1: Check Your Credit and Do Your Research.

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Real Estate Agent Inspection Sellers Real Estate 36

Assurance Financial

DECEMBER 20, 2021

There are many factors to consider when selling a home, and you may be wondering what happens to your mortgage when you move. After all, the 2018 American Community Survey found that the median length of time homeowners stayed in their homes was 13 years, a shorter length of time than most mortgage terms.

Mortgage 74

Mortgage Sellers Buyers Finance 74

Housing Wire

DECEMBER 20, 2022

This falls well below the landmark $1 billion he reached in 2020 and 2021. He built features that cater to realtors’ needs – such as weekly updates on the housing market, daily alerts of mortgage rates and keeping real estate agents informed of borrowers’ pre-approval status. CK: Has there been layoffs at Loan Factory as well?

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Business Retail Realtors Loan Officers 74

Housing Wire

JULY 25, 2023

What does the top-producing lending officer (LO) in the country have to say to other mortgage lenders? for purchase mortgage origination, and he is taking the stage at HW Annual. During the Peak Performers sessions, Weaver will share his 10 points to high-level loan originations. Mindset is everything. Weaver is the No.

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Real Estate Agent Mortgage Real Estate Training 316

Cornerstone

MAY 4, 2021

But before you sign any contracts, keep in mind that there’s something unique going on in today’s housing market. Since every home is different, consulting with your agent and your loan officer can set you up for success (and profit) when you’re ready to sell. Love your loan as much as you love your new house.

Renovations 41

Renovations Home Improvement Loan Officers Real Estate Agent 41

Cornerstone

JULY 1, 2021

This summer, sellers benefit from the fact that mortgage rates still hover around the rock-bottom lows seen during last year’s COVID crisis. Click here to find a knowledgeable local loan officer who can help you sell fast. We’ve devoted more than 30 years to refining the mortgage process. Got questions?

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Sellers Buyers Real Estate Agent Inventory 61

Housing Wire

MAY 10, 2023

You may have heard the good news: In recent weeks, several mortgage and real estate brokerage execs have exclaimed that we may have already reached the bottom of the market. For prospective home buyers and sellers, that could mean a gradual decline in mortgage rates , which would unlock inventory and—dare I say—sales activity.

Loan Officers 380

Loan Officers Marketing Inventory Real Estate Agent 380

Housing Wire

AUGUST 16, 2023

The biggest nonbank mortgage lenders in America saw improved performance in both origination and servicing segments in the second quarter, capitalizing on the continued mortgage pullback from banks. As we’ve reported, that trend looks sticky, which could help change the fortunes of top independent mortgage banks sooner than expected.

Retail 368

Retail Real Estate Agent Business Mortgage 368

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. Based on our read of 2021 Home Mortgage Disclosure Act (HMDA) data, we estimate that total originations volume last year was $4.4 Source: Mortgage Bankers Association. in the third quarter of 2020.

Lending 383

Lending Mortgage Real Estate Loan Officers 383

Housing Wire

DECEMBER 31, 2021

At the onset of the Coronavirus pandemic, the mortgage industry was preparing for absolute disaster. Mortgage executives held emergency meetings with their creditors over worst-case scenarios. Fratantoni’s organization is forecasting mortgage rates to gradually climb over the course of 2022, ending the year at 4%.

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Marketing Law Government Mortgage 427

Appraisal Today

SEPTEMBER 8, 2023

Appraisers are being told by their AMC clients and loan officers to appraise these as residential properties. Topics include: The Fed, Home Sales, Employment, Mortgage Rates and Commercial Real Estate.In For the remainder of the year, mortgage originations are expected to remain stagnant. bath, 2,908 sq.ft., 28 Year low.

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Appraisal Contracts Business Construction 81

Appraisal Today

JANUARY 12, 2024

NOTE: Please scroll down to read the other topics in this long blog post on 2024 forecasts for mortgage rates and originations, Private Money lending, unusual homes, mortgage origination stats, etc. But far higher expenses than pre-2020 norms will remain. baths, 7,455 sq.ft., They are risky for the lender and its investors.

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Appraisal Contracts Mortgage Marketing 68

Appraisal Today

AUGUST 13, 2023

NOTE: Please scroll down to read the other topics in this long blog post on non lender appraisals, liability, markets with few sales, Bias, unusual homes, mortgage origination A California Winery With a 91-Acre Vineyard for $12,995,000 Red Soles Winery, a 91-acre vineyard. August 9, 2023) — Mortgage applications decreased 3.1

Appraisal 75

Appraisal Contracts Real Estate Agent Mortgage 75

Housing Wire

AUGUST 22, 2022

A Maryland couple is suing appraisal firm 20/20 Valuations , its appraiser and mortgage lender loanDepot after their home was appraised at a far lower value than it was a few months later when they removed indications that a Black family lived there. How borrowers can stay afloat with home equity products during difficult economic times.

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Appraisal Loan Officers Valuation Finance 370