Housing Wire

AUGUST 14, 2023

Though its overall mortgage strategy has apparently not changed, Rocket Mortgage is undoubtedly ramping up its initiative to hire local loan officers to win purchase business. Kostegian’s comments offer insight into the scope of Rocket’s remote local loan officer program. Rocket didn’t respond to requests for comment.

Loan Officers 369

Loan Officers Mortgage Real Estate Agent Real Estate 369

Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. Borrowers don’t always know or understand how their credit or debt-to-income ratio (DTI) impacts the type of loan they can qualify for. CreditXpert’s Xpert Credit Process.

Loan Officers 433

Loan Officers Clients Tools Technology 433

Housing Wire

JUNE 5, 2023

HousingWire recently spoke with Desmond Smith , chief growth officer at United Wholesale Mortgage , about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker. In 2020 and 2021 when refinances were booming, we saw every lender thriving.

Mortgage 370

Mortgage Retail Lending Loan Officers 370

Housing Wire

AUGUST 1, 2023

The Detroit-based lender’s unmatched combination of name recognition, digital infrastructure and consumer technology enabled it to originate more than $670 billion in mortgages in 2020 and 2021, smashing records in the process. billion in 2021. Its parent Rocket Companies rode the wave to a stunning $9.4

Loan Officers 370

Loan Officers Retail Real Estate Agent Real Estate 370

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend.

Mortgage 519

Mortgage Marketing Retail Lending 519

Housing Wire

JANUARY 24, 2023

California lender New American Funding has partnered with EasyKnock, a New York startup that buys homes and rents them back to sellers, allowing clients to access their home equity through non-traditional means. billion in volume in 2022, a decline of more than 50% from its 2021 production of $30.5 The lender originated $14.9

Tenants 376

Tenants Loan Officers Finance Clients 376

Housing Wire

SEPTEMBER 30, 2021

Borrowers, loan officers, and the corresponding processors and underwriters are often working on entirely different systems. The platform is loan origination system-agnostic and is designed to deliver value to both borrowers and lenders–”from the point of thought of buying a house to the point of owning a home.” .

Loan Officers 356

Loan Officers Architecture Real Estate Agent Clients 356

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. That’s going to be a new market for me Lonnie Glessner, loan officer at Draper and Kramer Mortgage Corp.

Mortgage 382

Mortgage Loan Officers Inventory Retail 382

Housing Wire

SEPTEMBER 12, 2023

“Lenders and loan officers right now are just in survival mode,” Hoff said in an interview. About 20 loan officers under her leadership produced $116 million in mortgages over the last 12 months, a drop from $223 million in 2022, according to the mortgage tech platform Modex. trillion or $1.7

Loan Officers 393

Loan Officers Investors Mortgage Clients 393

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. 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

Retail 370

Retail Mortgage Loan Officers Marketing 370

Housing Wire

NOVEMBER 1, 2023

Jeff Walton, CEO and co-founder of mortgage data analytics company InGenius, which provides loan-officer data to IMBs for recruiting purposes, said it’s going to be a “tough time through winter.” These are the folks who are buying right now, and I you know because some of them are my clients.” trillion to $1.64

Mortgage 433

Mortgage Loan Officers Finance Buyers 433

Housing Wire

JANUARY 14, 2022

Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. “The area of focus for us right now is hiring LOs,” Lind said.

Lending 384

Lending Loan Officers Real Estate Mortgage 384

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. A massive job cut. Those jobs started to become offshore starting February.”. Not much better.

Mortgage 370

Mortgage Loan Officers Lending Business 370

Housing Wire

JUNE 8, 2022

Pontiac, Michigan-based lender United Wholesale Mortgage (UWM) Wednesday launched a new platform for independent mortgage brokers to access purchase leads, past clients and real estate agents — a move to entice and retain loan officers in a shrinking mortgage market. billion in mortgage loans in the first quarter of 2022, a 29.7%

Mortgage 362

Mortgage Real Estate Agent Real Estate Clients 362

Housing Wire

MAY 19, 2022

If there’s a bet to be made on the future of the non-agency lending space, it’s that the adjustable-rate mortgage (ARM) will become far more popular this year as purchase mortgages increasingly dominate a housing market pivoting to an up-rate environment. There’s a lot of different reasons why someone falls outside the agency loans.

Loan Officers 442

Loan Officers Lending Mortgage Housing Market 442

Housing Wire

FEBRUARY 9, 2021

HousingWire: We’ve seen multiple predictions of non-QM lending heating up in 2021. We saw and endured COVID force a pause on the business and had to quickly respond and adapt to continue to lend. Angel Oak made it happen thanks to our close connection with investors who trust our loans and lending standards.

Lending 396

Lending Loan Officers Business Investors 396

Housing Wire

DECEMBER 6, 2022

Becca Summers does not typically include Wells Fargo on the lender recommendation list she gives to clients. However, when mortgage rates started rising in the spring, Summers encouraged her clients to take advantage of the bank’s mortgage rate lock product. Fahad Janvekar, a loan officer at Fairway Independent Mortgage.

Real Estate 370

Real Estate Real Estate Agent Clients Agents 370

Housing Wire

NOVEMBER 2, 2023

There is also growing demand for non-QM products from a banking sector that is taking note, presenting new opportunities where some banks see the need to sell loans they would traditionally hold as portfolio products. with 85% owned by individual investors and LLCs based on 2021 U.S. HW: What are the strengths of the non-QM sector?

Investors 434

Investors Real Estate Lending Loan Officers 434

Housing Wire

FEBRUARY 5, 2024

“While we do not comment on pending litigation, Guild’s long-standing reputation for doing what’s right is built from our core values of integrity and respect, and we are committed to those values with every employee, client, and partner,” Guild said in a statement. Seely joined Guild in 2021 when the California-based lender paid $196.7

Retail 410

Retail Contracts Loan Officers Mortgage 410

Housing Wire

DECEMBER 16, 2021

In November, Interfirst issued pink slips to hundreds of non-commissioned loan officers at its call centers in Charlotte, North Carolina and Rosemont, Illinois, according to WARN notices in both states. Clients upload all documents into their loan origination system directly to reduce/eliminate operational staff.

Mortgage 369

Mortgage Loan Officers Retail Training 369

Housing Wire

MARCH 4, 2021

2021 is already shaping up to be a vastly different year than 2020 for the mortgage and real estate industry, and it’s not only because we’re entering a purchase market. Errors, mistakes and even fraud at the closing end can lead to a loan that can’t be (or shouldn’t have been) sold on the secondary market.

Lending 414

Lending Law Loan Officers Clients 414

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. trillion in 2021. trillion in 2022, while refinance origination will dip by 62% to $860 billion from $2.26

Marketing 393

Marketing Real Estate Agent Loan Officers Advertising 393

Housing Wire

FEBRUARY 3, 2023

San Antonio, Texas-headquartered USAA eliminated 130 positions in the real estate lending group amid projections that the mortgage industry will shrink in 2023. in 2021, mortgage data platform Modex showed. of the total volume in 2021, its origination shifted toward purchase mortgages, which accounted for 73.1%

Real Estate 73

Real Estate Lending Human Resources Insurance 73

Housing Wire

FEBRUARY 8, 2022

in early 2021 as part of a larger plan to expand its origination reach beyond California — with the goal of creating a national lending footprint. . That plan is now in full motion and, if successful, will double the lender’s origination volume this year, compared to 2021 — most of it in the non-QM space.

Marketing 369

Marketing Retail Lending Mortgage 369

Housing Wire

JUNE 4, 2021

In 2021 alone, 1,440 Austin homes have sold for between $100,000 and $299,999 above asking price, and 72 have already sold for $300,000 or more above asking price, per a recent study from Redfin. In 2020 and 2021, it became especially popular for remote tech industry workers looking to move from the Bay Area and Silicon Valley, in California.

Marketing 488

Marketing Sellers Finance Loan Officers 488

Housing Wire

DECEMBER 10, 2021

Prior to NEO Home Loans, Mettle served as senior vice president, director of physician lending at Fairway Independent Mortgage Corporation. He also is an author, podcast host and professional mortgage and life coach, helping the industry better understand how Physician Home Loans work.

Loan Officers 380

Loan Officers Housing Market Mortgage Tools 380

Housing Wire

FEBRUARY 10, 2023

Beret Kechian, loanDepot ’s top producer and branch manager, is joining a slew of mortgage loan originators who are cautiously optimistic about the mortgage landscape in 2023. It’s still a volatile market for mortgages, but the goal for Kechian is to get back to the purchase mortgage sale levels in 2021, which were at about $460 million.

Marketing 370

Marketing Inventory Loan Officers Buyers 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. trillion in new loans in 2020 and $3.9 mortgage industry to fund $4.1

Housing Market 414

Housing Market Marketing Loan Officers Mortgage 414

Housing Wire

MARCH 16, 2022

Rick Hill, vice president of industry technology at the Mortgage Bankers Association , said that lending is a critical component of the nation’s infrastructure, which is one reason it is more susceptible to being attacked. “We One challenge to assessing how widespread cyberattacks is the reluctance to disclose when an incident has occurred.

Mortgage 382

Mortgage Marketing Lending Loan Officers 382

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. billion in Q2 2022, a 7% increase compared to Q1 2022 and 56% compared to Q2 2021. In total, FoA funded $4.23

Mortgage 393

Mortgage Loan Officers Finance Investors 393

Housing Wire

MARCH 1, 2022

In eOriginal’s 2020 Tech100 nomination, the company boasted about the efficiency their ClosingCenter product brought to mortgage lending clients; Fairway achieved 80% faster mortgage acceptance by secondary market investors and also realized a 90% reduction in interest expenses to warehouse lenders for mortgages closed using ClosingCenter.

Real Estate 375

Real Estate Brokerage Real Estate Agent Technology 375

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

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. . Not a one-size fits all”.

Mortgage 370

Mortgage Bracketing Loan Officers Investors 370

Housing Wire

JUNE 29, 2023

The poaching lawsuit, filed on June 22 at a federal district court in Delaware, states that South Carolina-based Movement recruited and hired its employees in late 2021 and early 2022 to take trade secrets and confidential information. ” loanDepot has ongoing arbitrations with certain of the former employees.

Retail 408

Retail Contracts Legal Business 408

Housing Wire

FEBRUARY 3, 2022

Goldman Sachs ’s analysts wrote in a report to clients on January 6 that, overall, they remain negative on the group of nonbank mortgage originators for this year. The spread, which was 1.94% in the second quarter of 2020, declined to 1.19% in the final quarter of 2021. trillion in 2022, according to the trade group.

Mortgage 382

Mortgage Retail Finance Investors 382

Housing Wire

NOVEMBER 10, 2020

At that point, Dodson was actively working on a jumbo loan for friends of his from church. “I told my client, my friends, ‘Look, I know you’re supposed to close in 10 days but we’re closing Friday and you let everybody know it or you may not close,’” Dodson said. And non-QM loans in my experience are harder.”.

Business 424

Business Mortgage Investors Loan Officers 424

Housing Wire

JANUARY 27, 2023

The majority of lenders easily lost half of the volume last year that they originated in 2021, and LOs who have their own databases to tap into are highly sought after. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite.

Lending 392

Lending Real Estate Agent Loan Officers Retail 392