Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands. What will servicing look like in 2022?

Lending 382

Lending Finance Loan Officers Legal 382

Appraisal Buzz

DECEMBER 3, 2021

Mortgage lending has dropped in the second and third quarters of 2021, with finance mortgages dropping 13% and purchase loans off 2% for the first time this century. According to ATTOM’s Q3 2021 U.S. Residential Property Mortgage Origination Report, 3.59

Mortgage 195

Mortgage Lending Finance Development 195

Housing Wire

AUGUST 17, 2021

For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. Emerging out of the pandemic, the first half of 2021 showed that there is a historically low housing inventory across multiple markets in the U.S. Inventory issues. Push for tech.

Mortgage 509

Mortgage Inventory Real Estate Technology 509

Housing Wire

JANUARY 12, 2021

to Acra Lending, the company has also launched a new jumbo prime program. HousingWire recently spoke with Keith Lind, Acra executive chairman and president, and Acra CEO Kyle Gunderlock, about the new program and how it will help borrowers in 2021 and beyond. HousingWire: Why did you develop the Jumbo Prime program?

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Housing Wire

DECEMBER 14, 2021

The non-QM mortgage market, which encompasses most home loans not backed by a government-sponsored guarantee, is expected to reach the $25 billion mark this year in private-label securitization volume. . We’re expecting close to 100% growth [in 2022] from 2021, and this year, 2021, is our biggest year ever,” he said. “We

Lending 377

Lending Technology Government Investors 377

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 mortgage lender hopes to boost volume in the channel. The lender offers a variety of mortgage products, including conventional, FHA, VA, jumbo, rural development loans.

Retail 382

Retail Mortgage Loan Officers Lending 382

Housing Wire

JANUARY 24, 2022

Stearns Lending will lay off 348 workers following the decision by Guaranteed Rate earlier this month to discontinue operations of its third-party wholesale channel. Founded in 2000, Guaranteed Rate sought to boost retail loan originations, scale its JV platform, and develop new multichannel capabilities by acquiring Stearns.

Lending 370

Lending Retail Loan Officers Business 370

Housing Wire

JULY 6, 2022

Wells Fargo, the third-biggest mortgage lender in the country, will lay off 125 employees in its home lending division in Iowa by the end of August. The bank will cut 11 jobs in July and 114 in August, according to Worker Adjustment and Retraining Notification (WARN) notices submitted to the Iowa Workforce Development.

Mortgage 407

Mortgage Lending Business Development 407

Housing Wire

MARCH 17, 2023

a mortgage artificial intelligence firm focused on automated mortgage underwriting decisions, has conducted layoffs as lenders rush to cut costs. Candor is executing a change in strategy to address the ever-changing mortgage market and to pivot along with client operations,” Tom Showalter, CEO of Candor , said in an e-mailed response.

Mortgage 366

Mortgage Clients Technology Development 366

Housing Wire

JULY 15, 2022

Wells Fargo ‘s second-quarter earnings reflect the broader challenges mortgage lenders face in such a turbulent market – in just six months, a rapid rise in mortgage rates has eroded consumer demand, shocked capital markets and forced mass industry layoffs. The lone bright spot was higher mortgage servicing income.

Business 427

Business Mortgage Lending Retail 427

Housing Wire

SEPTEMBER 6, 2022

Depository bank Citi has trimmed staffing levels in its mortgage business, following surging rates and a reorganization of its operations. . Citi has made a small number of staffing reductions within our mortgage team due to internal streamlining of functions,” a spokesperson said in a statement. compared to the same period in 2021.

Mortgage 383

Mortgage Retail Lending Finance 383

Housing Wire

APRIL 5, 2024

The National Reverse Mortgage Lenders Association (NRMLA) announced this week that Peter Sciandra, EVP of reverse lending and secondary marketing at Fairway Independent Mortgage Corporation , has joined its board of directors for the remainder of the 2023-2024 term. ”

Lending 416

Lending Mortgage Development Business 416

Housing Wire

JANUARY 19, 2024

The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans. Tennessee-based community bank Patriot Bank agreed to pay $1.9

Loan Officers 438

Loan Officers Lending Advertising Home Improvement 438

Housing Wire

MAY 3, 2021

The 2021 winners demonstrated their worth in the crucible of 2020 — navigating through shut-down orders and liquidity concerns before pivoting quickly to respond to record-low interest rates. Those rates resulted in record-setting volume for real estate and mortgage companies, and a whole new set of challenges for their finance leaders.

Finance 395

Finance Lending Realty Investing 395

Housing Wire

FEBRUARY 6, 2024

The complaint alleges that, from 2017 through 2021, FNB failed to provide mortgage services to predominantly Black and Hispanic neighborhoods in Charlotte and Winston-Salem, North Carolina. billion in mortgages, primarily conventional and purchase loans, per tech platform Modex. In 2023, the bank originated about $2.3

Advertising 405

Advertising Lending Loan Officers Law 405

Housing Wire

JUNE 6, 2022

It’s a tough time for mortgage lenders. A rapid rise in mortgage rates and a big drop in origination volume has led to thousands of industry job losses over the last six months. 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.

Mortgage 417

Mortgage Loan Officers Lending Human Resources 417

Housing Wire

FEBRUARY 2, 2022

ConsumerDirect Mortgage rebranded itself to Real Genius and announced the launch of a modern mortgage application platform to simplify a borrower’s experience. Additionally, the lender promises borrowers a “personalized approach” and “access to veteran mortgage professionals.”.

Mortgage 357

Mortgage Technology Lending Modernization 357

Housing Wire

FEBRUARY 17, 2021

The FHFA released its 2021 Scorecard for Fannie Mae , Freddie Mac and Common Securitization Solutions on Tuesday, adding new resolution planning requirements for the GSEs. The rest of the 2021 Scorecard aligns the 2019 Strategic Plan with the Enterprises’ tactical priorities and operations. Non-QM lending is poised for growth in 2021.

Finance 407

Finance Lending Business Technology 407

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.

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Mortgage Marketing Retail Lending 521

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. HW: How has wholesale changed over the past 2–3 years?

Mortgage 370

Mortgage Retail Lending Loan Officers 370

Housing Wire

JANUARY 19, 2024

Country Club Mortgage , a home lender based in California , has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. More than 50 mortgage loan officers were let go. This letter serves to give you an amended 60-day notice of permanent layoffs and facility closures effective Feb.

Human Resources 447

Human Resources Mortgage Loan Officers Finance 447

Housing Wire

JULY 22, 2022

Guaranteed Rate is looking to diversify its product mix amid the mortgage downturn. The mortgage lender has rolled out its first personal loan product. ” The personal loans could also be a good source of leads for mortgages down the road. .” What opportunities do lenders miss out on by not focusing on credit.

Mortgage 395

Mortgage Lending Finance Retail 395

Housing Wire

MAY 11, 2021

Mortgage credit availability increased by 2.2% in April as mortgage lenders fight for borrowers in an increasingly competitive market. The Mortgage Bankers Association said Tuesday that the Mortgage Credit Availability Index (MCAI) — which uses 100 as a benchmark — increased to 128.1 last month.

Mortgage 501

Mortgage Lending Housing Market Government 501

Housing Wire

AUGUST 16, 2021

United Wholesale Mortgage CEO Mat Ishbia has set the goal of topping arch-rival Rocket Mortgage by 2024. The wholesale-only lender originated $59 billion in mortgages in the second quarter, generating $139 million in net income, UWM disclosed in its earnings report on Monday. billion in Q1 and $6.2 billion a year ago.

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Development Mortgage Retail Business 395

Housing Wire

AUGUST 8, 2022

HousingWire recently spoke with John Jeanmonod, Regional Vice President of Sales at Angel Oak, about non-QM lending and the outlook for the second half of 2022. We have been out educating the mortgage industry on what non-QM is and how to utilize it since we were founded. Not in droves like in 2021, but the business is out there.

Lending 381

Lending Loan Officers Training Investors 381

Housing Wire

JUNE 24, 2022

Texas lender Mid America Mortgage rebranded as Click n’ Close to expand into the mortgage technology industry following the sale of the majority of its retail lending operations. The post Mid America Mortgage rebrands to Click n’ Close appeared first on HousingWire. million in the first quarter of this year. .

Mortgage 372

Mortgage Retail Technology Lending 372

Housing Wire

FEBRUARY 9, 2021

Nominations for HousingWire’s 2021 Rising Stars opened today! Ashley Smith , also a 2020 Rising Star, is the head of marketing for Finance of America Reverse , one of the largest reverse mortgage lenders in the U.S., developing viral consumer campaigns to improve industry perception. And the list keeps going!

Lending 370

Lending Real Estate Finance Development 370

Housing Wire

JULY 5, 2023

District Court for the Western District of Texas by a group of current and former staffers from the company’s bilingual mortgage sales team alleging race-based discrimination. Wells Fargo forces its employees on the Bilingual team to offer predatory lending options to Spanish-speaking customers,” the initial legal complaint reads.

Mortgage 370

Mortgage Lending Legal Business 370

Housing Wire

JULY 11, 2022

Mortgage consulting firm LendArch has hired Karthik Kumar, the former global mortgage practice head at Tata Consultancy Services (TCS). He then spent 18 years at TCS, where he focused on solution architecture, operational delivery and entity transformation for most of the top-40 mortgage lenders and the largest vendors.

Mortgage 364

Mortgage Architecture Technology Clients 364

Housing Wire

SEPTEMBER 16, 2021

The average 30-year-fixed mortgage continued to hover around the 2.86% mark for the week ending Sept. Mortgage rates have been around that mark for roughly two months, leading economists at Freddie Mac to liken it to “Groundhog Day.” A year ago, the average 15-year-fixed-rate mortgage was 2.35%. Presented by: Deluxe.

Mortgage 475

Mortgage Government Lending Development 475

Housing Wire

JUNE 2, 2022

Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. The agreement resolves a complaint the NCRC filed in October 2021 with the Department of Housing and Urban Development.

Mortgage 395

Mortgage Training Loan Officers Lending 395

Housing Wire

APRIL 13, 2022

Despite advances in technology, the mortgage industry still lacks efficiency. Mortgage executives are aware of a problem: despite billions of dollars in technology investments , the mortgage industry still largely looks like it did two decades ago. Bank Home Mortgage. But it’s a challenge.

Mortgage 405

Mortgage Technology Development Finance 405

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). billion in Q4 2021. level from the first quarter of 2021, ATTOM reported.

Lending 345

Lending Renovations Real Estate Finance 345

Housing Wire

MARCH 3, 2022

Ohio-based lender Union Home Mortgage made changes to its leadership group, promoting three executives to vice president positions as the company seeks to boost its growth. According to Inside Mortgage Finance, the company is the 49th-largest mortgage lender in the country. in 2021, to $13 billion. billion, up 65.5%

Retail 358

Retail Mortgage Development Business 358

Housing Wire

MAY 23, 2022

Full-service lender Cherry Creek Mortgage announced Rick Hogle has joined the company as its chief revenue officer. In his new role, Hogle will manage the firm’s retail operations, overseeing growth and development of retail sales and the production network, while supporting the firm’s business channels.

Mortgage 394

Mortgage Retail Insurance Development 394

Housing Wire

JUNE 8, 2021

The HW Insiders program is for the operational all-stars within the housing economy who do the leg work and make the mortgage industry tick, but rarely get the credit. Maxson helped develop a new workflow process that enabled NotaryCam to manage a 300% increase in demand for remote online notarization. . Nominate someone today!

Real Estate 241

Real Estate Development Insurance Government 241

Housing Wire

JULY 27, 2022

In mid-2021, most mortgage companies enjoyed strong origination volume and were hiring additional staff in response. Rates are now reaching almost 6% for a 30-year fixed mortgage , while the Federal Reserve has enacted substantial interest rate hikes and further increases are likely on the horizon.

Mortgage 381

Mortgage Marketing Lending Business 381