Housing Wire

NOVEMBER 23, 2021

Chicago-based Interfirst Mortgage Co. 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. In returning from its three-year hiatus, Interfirst said it had reinvented itself as a tech-forward mortgage lender.

Mortgage 382

Mortgage Loan Officers Retail Technology 382

Housing Wire

NOVEMBER 27, 2023

Mortgage rates have pulled back in recent weeks giving consumers and loan originators some breathing room, but headwinds in the industry are far from over. Piper Sandler expects a drop in prepayment speeds to continue despite the near-term dip in mortgage rates, because very few borrowers have mortgage rates above current levels.

Mortgage 406

Mortgage Investing Government Real Estate 406

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgage 522

Mortgage Marketing Retail Lending 522

Housing Wire

APRIL 28, 2022

Ohio-based Union Home Mortgage is the latest in a string of lenders this week to institute workforce reductions. The multichannel lender, which originated roughly $13 billion in residential mortgage last year, declined to provide any details about the layoffs. from 2020 to 2021, to $13 billion. billion, up 65.5%

Mortgage 349

Mortgage Loan Officers Retail Construction 349

Housing Wire

SEPTEMBER 24, 2022

Caliber Home Loans , owned by publicly-traded Rithm Capital , issued pink slips to at least 300 employees earlier this week as soaring mortgage rates thin out already-declining origination volume. In response to slim margins due to rising mortgage rates, lenders conducted multiple rounds of layoffs this year.

Loan Officers 410

Loan Officers Development Mortgage Finance 410

Housing Wire

AUGUST 1, 2023

When the Federal Reserve slashed interest rates to zero on March 15, 2020 and set off an extraordinary real estate boom, Rocket Mortgage was ready. billion in profit in 2020 and $6.1 billion in profit in 2020 and $6.1 Its parent Rocket Companies rode the wave to a stunning $9.4 billion in 2021. billion in 2021.

Loan Officers 369

Loan Officers Retail Real Estate Agent Real Estate 369

Housing Wire

MARCH 25, 2021

Digital mortgage and fulfillment platform Maxwell has raised $16.3 Other investors included Rotor Capital , The Mortgage Collaborative Emerging Technology Fund , Prudence Holdings and existing investors including Anthemis Group , Route 66 Ventures , and Sovereign’s Capital. mortgage market. Presented by: Sutherland.

Mortgage 415

Mortgage Lending Technology Loan Officers 415

Housing Wire

DECEMBER 7, 2022

Industry analysts say they expect loan volume to remain depressed for at least the next two quarters, meaning it will be a long winter for loan originators. The recent declines in mortgage rates brought a glimmer of hope that borrowers might be developing more of a stomach for home loans. this past week.

Mortgage 367

Mortgage Loan Officers Development Housing Market 367

Housing Wire

SEPTEMBER 12, 2023

Shannon Hoff, a California-based branch manager at American Pacific Mortgage (APM), finds herself both enthusiastic and cautious as she assesses the prospects of the mortgage market in the coming year. “Lenders and loan officers right now are just in survival mode,” Hoff said in an interview.

Loan Officers 397

Loan Officers Investors Mortgage Clients 397

Housing Wire

JULY 12, 2021

Venture capital-backed mortgage lender Better.com is going international. The company, which is expected to go public later this year, has agreed to acquire United Kingdom-based digital mortgage brokerage Trussle. since early 2020, with plans to usurp the traditional mortgage brokerages that dominate the U.K.’s

Brokerage 410

Brokerage Mortgage Loan Officers Finance 410

Housing Wire

JANUARY 12, 2022

Guaranteed Rate will continue to thrive and win market share by having a laser focus on leveraging our industry-leading purchase platform augmented by the best loan officers in the business,” Guaranteed Rate CEO Victor Ciardelli wrote in an email to brokers that HousingWire reviewed.

Retail 384

Retail Loan Officers Best Value Business 384

Housing Wire

MARCH 15, 2021

Josh Friend : Amid this global pandemic, mortgage rates have been at historically low levels, borrower demand has increased, refi’s have broken records and lenders have had to shift in many instances to a remote workforce. Power 2020 U.S. Retail lenders originate loans through their in-person retail branches.

Lending 397

Lending Retail Mortgage Loan Officers 397

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgage 397

Mortgage Loan Officers Finance Investors 397

Housing Wire

OCTOBER 12, 2022

Sacramento, California-based mortgage lender Summit Funding Inc. plans to make a round of layoffs in late November that will affect 72 employees, according to a document filed with the state’s Employment Development Department. . Todd Scrima, the company’s CEO, founded the mortgage lender in 1995.

Human Resources 400

Human Resources Loan Officers Mortgage Development 400

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.

Loan Officers 383

Loan Officers Mortgage Retail Contracts 383

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.

Mortgage 436

Mortgage Training Contracts Loan Officers 436

Housing Wire

JANUARY 5, 2021

SimpleNexus , a digital mortgage startup, announced on Tuesday that it picked up $108 million in a Series B funding around. The fund raise comes as the company attempts to increase its marketshare within the eClosing and mobile mortgage segments.

Architecture 397

Architecture Real Estate Agent Loan Officers Real Estate 397

Housing Wire

AUGUST 31, 2020

According to Beeline, the company plans to unveil a new office in Charlotte in the fall of 2020 – followed by a new branch on the West Coast towards the end of the year. The company has developed an alternative to what is traditionally know as a loan officer role.

Loan Officers 347

Loan Officers Development Real Estate Technology 347

Housing Wire

MARCH 16, 2022

Tech-fueled retail mortgage lender InstaMortgage has merged with mortgage broker shop All Cal Financial , a rare example of a top-performing brokerage switching channels. As part of the merger, Jim Black, the founder of All Cal, will become chief lending officer of InstaMortgage.

Retail 410

Retail Loan Officers Brokerage Technology 410

Housing Wire

MARCH 8, 2021

For many in the housing industry, the events of 2020 accelerated tech adoption. Despite the increased pace, the industry as a whole still has room for continued tech development and usage. HousingWire: Why do you feel it is important to continually develop and use new technologies? First, mortgage lending is highly volatile.

Technology 366

Technology Lending Loan Officers Development 366

Housing Wire

FEBRUARY 11, 2022

Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. According to the Mortgage Bankers Association ’s yearly forecast, purchase mortgage originations are expected to grow by 9% to $1.73

Marketing 397

Marketing Real Estate Agent Loan Officers Advertising 397

Housing Wire

SEPTEMBER 2, 2020

Cooper , a nonbank mortgage lender and servicer, announced on Wednesday the company plans to hire an additional 2,000 mortgage professionals and support staff by the end of 2020. The company is hiring for positions with multiple experience levels including loan officers, mortgage underwriters and loan processors.

Training 382

Training Loan Officers Development Mortgage 382

Housing Wire

MARCH 1, 2022

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, posted another record for production in 2021, but lower margins and declines in fair value of mortgage servicing rights impacted its earnings. billion registered in the previous year, which was the best in the history of the mortgage industry. from the $3.38

Retail 397

Retail Mortgage Loan Officers Technology 397

Housing Wire

JUNE 2, 2021

Hansen told HousingWire that he stepped down to lead a team of software developers and sales staff for upcoming research and development tactics within SimpleNexus. This new role will give him more time to focus on his passion for product and development, he said.

Real Estate Agent 274

Real Estate Agent Development Real Estate Technology 274

Housing Wire

MAY 3, 2022

Fast-rising mortgage rates, recently cresting above 5% , have reduced refinance volumes by 70% year over year as of the end of April. ” Prospective borrowers can talk to a licensed loan officer if they prefer during the approval process, however. Martell was hired for a newly created position as president and CEO.

Renovations 397

Renovations Loan Officers Technology Mortgage 397

Housing Wire

MARCH 1, 2022

In January I received a text message from Dave Savage, CEO of Mortgage Coach. News just broke that private equity investor LLR Partners announced strategic investments in two mortgage technology companies — Mortgage Coach and Sales Boomerang ( click here for article ). Tech100 Mortgage Winners. Hey Clayton …” and a link.

Real Estate 368

Real Estate Brokerage Real Estate Agent Technology 368

Housing Wire

JANUARY 27, 2021

Digital mortgage platform Roostify announced on Tuesday it has raised another $32 million in a Series C funding round amid a booming real estate market, bringing the tech startup’s total capital to $65 million. And software and platform developers Qualia and Blend both achieved unicorn status by the end of the year. “I

Lending 364

Lending Technology Loan Officers Investors 364

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 458

Loan Officers Supply Chain Mortgage Marketing 458

Housing Wire

APRIL 7, 2021

Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and home sellers while also playing an expanding role as personal advisors. markets; by December 2020, prices were already up 23.6%

Housing Market 545

Housing Market Marketing Real Estate Technology 545

Housing Wire

AUGUST 12, 2020

This morning, Blend President Tim Mayopoulos (and former CEO of Fannie Mae ) told me that Blend didn’t necessarily “need” the funding but saw the value in accelerating its product development plans. To that end, Blend plans to use the new capital to invest in product development such as speeding up the release of its digital closing solution.

Investing 496

Investing Loan Officers Technology Development 496

Housing Wire

JANUARY 14, 2022

“HomeSmart is a revolutionary real estate enterprise powered by our proprietary end-to-end technology platform,” declared the first page of the voluminous SEC filing, later elaborating: “We have been developing our software in-house over the last 20 years and have a 100% adoption rate across our agents.”. HomeSmart posted a $7.1

Brokerage 419

Brokerage Agents Real Estate Loan Officers 419

Housing Wire

JULY 1, 2022

Three former employees are suing First Guaranty Mortgage Corporation (FGMC) and financial backer Pacific Investment Management Company (PIMCO), alleging they were discriminated against on the basis of their gender and then retaliated against for complaining. .

Human Resources 348

Human Resources Loan Officers Retail Construction 348

Housing Wire

JUNE 24, 2021

Buyside helps real estate agents and loan officers engage homeowners with not just home value tools but also branded wealth optimization tips on their home’s equity so homeowners can now truly view their home as an asset. In 2020, Buyside clients closed close to $20 Billion in sales through Buyside, averaging over a 3000% ROI.

Valuation 337

Valuation Real Estate Agent Real Estate Clients 337

Housing Wire

MARCH 31, 2022

We recently spoke to Bao Huynh, Director of Business Development at LoanScorecard, about these changes and the challenges of originating non-QM loans. Non-QM, like any mortgage product, is affected by interest rate fluctuations. Then in the second half of 2020 it reopened, but cautiously.

Marketing 373

Marketing Investors Technology Loan Officers 373

Housing Wire

OCTOBER 27, 2020

HousingWire recently spoke with Susan Falsetti, managing director of Origination Title and Close at ServiceLink, about the state of title in 2020 and how the EXOS technology platform allowed ServiceLink clients to take advantage of virtual closing solutions. This technology became essential amid social distancing guidelines.

Clients 379

Clients Technology Insurance Loan Officers 379

Housing Wire

MARCH 7, 2024

SW: We have seen an increasing number of cyberattacks on companies in real estate and mortgage, including First American. And yet, like when you look at the real estate transaction, the number of transactions an agent, or loan officer, or an escrow officer can handle a month hasn’t increased materially.

Real Estate 406

Real Estate Investing Human Resources Technology 406

Housing Wire

SEPTEMBER 15, 2020

The virtual notary services industry has become increasingly popular amid the COVID-19 pandemic as businesses have adopted remote signatures to adhere to social distancing protocols while closing on mortgages and other loans. Consumer loans such as mortgages and other financial documents require notarization.

Business 487

Business Law Real Estate Investors 487