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2020 HW Tech Trendsetter: Paul Akinmade

Housing Wire

Within four years, Akinmade and his team have built a robust, automated marketing platform, which is driven by investment in technology, to give retail loan officers a competitive edge. The post 2020 HW Tech Trendsetter: Paul Akinmade appeared first on HousingWire.

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Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

“Market dynamics in early 2020, which have caused significant disruption to the origination and servicing markets, accelerated our plan to reenter the market with our new business model in a more robust way with a broader relaunch of the Company,” Mark Freedle, Interfirst’s executive vice president of production, told MReport in July 2020.

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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

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.

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What mortgage lenders need to know about wholesale

Housing Wire

More people are realizing that not only is the wholesale channel the best place for a consumer to get a loan, but it’s also the best place for a loan officer to work and the best lending partner for a real estate agent. In 2020 and 2021 when refinances were booming, we saw every lender thriving.

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Interfirst Mortgage to lay off nearly 50 LOs

Housing Wire

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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Mr. Cooper plans to hire 2,000 new team members to serve growing demand

Housing Wire

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.

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What MBA’s forecast means for mortgage originators

Housing Wire

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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