Housing Wire

JANUARY 19, 2023

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retail lending. The lender offers a variety of mortgage products, including conventional, FHA, VA, jumbo, rural development loans. million in 2021, origination volume dropped by more than 53.8%

Retail 381

Retail Mortgage Loan Officers Lending 381

Housing Wire

AUGUST 30, 2021

million to create a loan subsidy fund for residents of predominantly Black and Hispanic neighborhoods in the Houston area, $750,000 for development of community partnerships to provide services that increase access to residential mortgage credit in those neighborhoods. Specifically, Cadence will provide $4.17

Lending 393

Lending Loan Officers Advertising Development 393

Housing Wire

JANUARY 12, 2022

Chicago-based Guaranteed Rate will discontinue its third-party wholesale channel, Stearns Wholesale Lending , just one year after it acquired the multichannel lender. The email explained that the last day to register a loan is January 12, while the last day for closing a transaction is February 28.

Retail 382

Retail Loan Officers Best Value Business 382

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

JUNE 6, 2022

By some estimates, origination volume will fall in 2022 to about $2 trillion, about half the volume from the record-breaking years of 2021 and 2020. Wells Fargo , one of the nation’s largest banks, had at least 114 layoffs in its home lending business following a drop in revenue in that division in the first quarter of 2022.

Mortgage 414

Mortgage Loan Officers Lending Human Resources 414

Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing.

Loan Officers 457

Loan Officers Lending Real Estate Brokerage 457

Housing Wire

JANUARY 19, 2024

6, 2024,” Sherry Carson, human resources generalist at Country Club Mortgage, wrote in a letter sent to the Employment Development Department in California in early December. Job cuts include the leadership – the president and CEO, the finance manager and the credit risk officer. More than 50 mortgage loan officers were let go.

Human Resources 441

Human Resources Mortgage Loan Officers Finance 441

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

JUNE 2, 2022

The agreement resolves a complaint the NCRC filed in October 2021 with the Department of Housing and Urban Development. NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021.

Mortgage 392

Mortgage Training Loan Officers Lending 392

Housing Wire

MARCH 16, 2022

As part of the merger, Jim Black, the founder of All Cal, will become chief lending officer of InstaMortgage. Black, a licensed mortgage loan officer and broker, will also lead product development, tech partnerships and sales growth. Magazine’s list of the 5,000 fastest growing companies in America in 2021.

Retail 414

Retail Loan Officers Brokerage Technology 414

Housing Wire

JUNE 10, 2022

Mortgage lender and servicer Planet Home Lending also named Kathryn Edelen as regional vice president of its sales division this week. RE/MAX and Motto were having trouble hiring experienced processors, so about four years ago they bought wemlo, which has a platform connecting mortgage brokers and loan originators to a processing network.

Marketing 402

Marketing Real Estate Agent Lending Real Estate 402

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

JULY 12, 2023

Pennington’s departure comes a few months after Brady Yeager , a mortgage executive with over 21 years in finance and mortgage lending roles, joined Movement as national sales director. Schoolfield and Shelton joined Movement in 2012, were promoted as divisional leaders in February 2021, and landed at Summit in July.

Retail 370

Retail Development Finance Lending 370

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

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

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. Some mortgage lenders reduced their workforce in the second half of 2021 and are now implementing new layoff rounds, such as Interfirst and Better.com.

Human Resources 381

Human Resources Loan Officers Retail Training 381

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. The brokers were in agreement that recruiting talent and maintaining strong partnerships will be key to not only brand development, but a lasting foundation that will continue post-pandemic. “So

Retail 370

Retail Mortgage Loan Officers Marketing 370

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. When will the market turn?

Loan Officers 393

Loan Officers Investors Mortgage Clients 393

Housing Wire

MARCH 8, 2021

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? Renata Sheyner : Two key industry factors drive the need for continual use and development of new technologies.

Technology 378

Technology Lending Loan Officers Development 378

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

AUGUST 31, 2020

Digital lender Beeline plans to hire over 300 new employees total by September 2021 – with over 100 new positions opening in Charlotte, North Carolina and Providence, Rhode Island, the company said Monday. The company has developed an alternative to what is traditionally know as a loan officer role.

Loan Officers 361

Loan Officers Development Real Estate Technology 361

Housing Wire

MARCH 23, 2022

As the housing market continues to move from last year’s refinance boom, lenders’ ability to identify customers and maintain consumer relationships has become more important than ever in not only securing loans but also ensuring they make it to close. Homebuyers often search for financing online before engaging a Realtor.

Finance 328

Finance Loan Officers Lending Housing Market 328

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

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

Housing Market 413

Housing Market Marketing Contracts Finance 413

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

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

JULY 1, 2021

of Black Americans bought or own their home as of the first quarter of 2021 — against 73.8% The CFPB found that lenders engaged in deceptive business practices, including violations of the Truth in Lending Act and the Equal Credit Opportunity Act, and provided inaccurate data on mortgage loans. of white Americans.

Loan Officers 477

Loan Officers Realtors Open Houses Law 477

Housing Wire

SEPTEMBER 2, 2020

The company is hiring for positions with multiple experience levels including loan officers, mortgage underwriters and loan processors. Mr. Cooper is also looking for potential Home Advisors, a company curated hybrid role that focuses on servicing customer loans and originating mortgage products.

Training 381

Training Loan Officers Development Mortgage 381

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

JULY 27, 2022

In mid-2021, most mortgage companies enjoyed strong origination volume and were hiring additional staff in response. These developments have essentially brought refinance originations to a screeching halt. What a difference a year makes. Inspiration from manufacturing.

Mortgage 379

Mortgage Marketing Lending Business 379

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

JULY 28, 2022

As the Federal Reserve announced yet another 75 basis point interest rate hike Wednesday, loan officers and lending executives — already well aware of the news — were looking ahead, questioning whether mortgage rates will spike or dip in the aftermath. Census and the Department of Housing and Urban Development.

Housing Market 302

Housing Market Marketing Loan Officers Buyers 302

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

APRIL 4, 2022

The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined. As interest rates rise, so do the monthly mortgage payments, which could be problematic for low-to-moderate income borrowers, said Alex Naumovych, loan officer at Draper & Kramer Mortgage.

Insurance 370

Insurance Loan Officers Sellers Mortgage 370

Housing Wire

OCTOBER 22, 2020

It’s worth looking inside the numbers though as we head toward year-end and think about 2021 strategies. 2021 is expected to show refinance volume being cut nearly in half by just over $800bb, almost 50% of 2020. Despite this contraction, 2021 is forecasted to be a larger overall year than 2019 by approximately $195bb.

Mortgage 447

Mortgage Training Contracts Loan Officers 447

Housing Wire

MARCH 1, 2022

million investment in eOriginal, a multi-year Tech100 winner that developed a ‘simple closing experience for lenders, borrowers and settlement agents.’ Refinance volume is projected to fall by 63% in 2022 and overall origination volume is projected to be down 35% after 2020 and 2021 had recording-setting origination volume.

Real Estate 375

Real Estate Brokerage Real Estate Agent Technology 375

Housing Wire

JANUARY 25, 2022

By all accounts, most mortgage companies enjoyed a solid 2021 and likely generated decent cash over the last two years. To develop a robust input, it’s imperative to understand your cash flows, which means knowing your sources and uses of cash. Ravi Correa is Chief Financial Officer at Angel Oak Lending.

Mortgage 368

Mortgage Inventory Business Loan Officers 368