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 in profits in 2021, down 53.6% billion in profits in 2021, down 53.6% million in Q4 2021.

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Retail Mortgage Loan Officers Technology 393

Housing Wire

APRIL 7, 2021

And now, with the COVID-19 vaccine circulating and the economy slowly regaining strength, Zillow researchers say millions of additional households could enter the housing market in 2021. While moving itself can be stressful, changing zip codes in 2020 and 2021 seems to be eliciting mostly happiness. Presented by: Propertybase.

Housing Market 545

Housing Market Marketing Real Estate Technology 545

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 413

Mortgage Loan Officers Lending Human Resources 413

Housing Wire

OCTOBER 4, 2022

The shift from a refinance boom to a purchase market will leave some mortgage lenders and loan officers with only two options: “Consolidate or exit the business,” according to ​​Mary Ann McGarry, Guild Mortgage’s chief executive officer. “Think of 2020 and 2021.

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Mortgage Retail Loan Officers Business 404

Housing Wire

JANUARY 27, 2023

Top-producing loan officer Dave Medina and his team at the Temecula, California-based branch have left ​​ Fairway Independent Mortgage to join Movement Mortgage. “Outside of just doing mortgages, I want to be part of something bigger and Movement had some opportunities for me to get involved with national coaching.”

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Retail Mortgage Loan Officers Brokerage 380

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 380

Mortgage Training Loan Officers Lending 380

Housing Wire

MARCH 28, 2024

The operating model change involved Better pivoting to hiring experienced loan officers on commission-based compensation plans. Previously, the lender had higher fixed-cost components and no commissions for its loan officers. The lender posted production of $3 billion across 8,569 loans in full year 2023.

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Loan Officers Technology Investing Realtors 394

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%

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Mortgage Loan Officers Retail Construction 324

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. In addition, the bank discouraged these customers from obtaining home loans, according to the complaint. The settlement includes $11.75

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Advertising Lending Loan Officers Law 384

Housing Wire

DECEMBER 1, 2022

Editor’s note: Following publication of this story, HousingWire learned that Guild Mortgage had struck a deal to acquire Inlanta Mortgage. Wisconsin lender Inlanta Mortgage announced plans to shut down next year after laying off 62 employees. million year to date, according to data from mortgage tech platform Modex.

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Mortgage Loan Officers Buyers Business 360

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 519

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 359

Mortgage Retail Lending Loan Officers 359

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As

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Mortgage Loan Officers Lending Business 367

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 2021. billion in 2021. But more than 80% of Rocket’s volume during those years came from refinancings, data from Inside Mortgage Finance (IMF) showed.

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Loan Officers Retail Real Estate Agent Real Estate 362

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 357

Mortgage Loan Officers Retail Training 357

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. Overall, purchase volume is now down 56% from the near-term peak in January 2021 and 9% below the previous trough in 2014.

Mortgage 378

Mortgage Investing Government Real Estate 378

Housing Wire

MARCH 22, 2023

Homebot , a home education portal that keeps people connected to their loan officers and real estate agents, acquired Quo Finance , a mobile app for first-time homebuyers. million in seed funding, led by SignalFire in December 2021 to develop the mobile app. Terms of the transaction were not disclosed. Quo raised $7.2

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Finance Real Estate Agent Loan Officers Legal 329

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 371

Mortgage Loan Officers Retail Technology 371

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 357

Mortgage Loan Officers Development Housing Market 357

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.

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Retail Loan Officers Best Value Business 382

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.

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Loan Officers Investors Mortgage Clients 393

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 391

Mortgage Loan Officers Finance Investors 391

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.

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Human Resources Loan Officers Mortgage Development 377

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 357

Mortgage Marketing Lending Business 357

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.

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Loan Officers Mortgage Retail Contracts 376

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.

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Mortgage Training Contracts Loan Officers 400

Housing Wire

APRIL 20, 2021

In the past year, among the many challenges and difficulties brought on by the COVID-19 pandemic, the real estate and mortgage industries enjoyed a wave of success with low interest rates, refinance opportunities and etc. But if you’ve gotten this far I want to ask this question: how good is your real estate or mortgage CRM software?

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Real Estate Mortgage Loan Officers Advertising 404

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Three independent wholesale brokers discuss how they found success in the wholesale channel during a HousingWire webinar on Thursday titled: ”Taking the Mortgage Boom to the Next Level.”.

Retail 369

Retail Mortgage Loan Officers Marketing 369

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 389

Lending Loan Officers Advertising Development 389

Housing Wire

MAY 2, 2022

Six months ago Interfirst Mortgage Co. 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. The workforce reduction is also focused on mortgage loan production. Presented by: Acra Lending.

Human Resources 367

Human Resources Loan Officers Retail Training 367

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 378

Retail Loan Officers Brokerage Technology 378

Housing Wire

JULY 12, 2023

Three veteran sales executives at Movement Mortgage have parted ways with the South Carolina-based lender to join the competitor Summit Funding, sources told HousingWire. Schoolfield and Shelton joined Movement in 2012, were promoted as divisional leaders in February 2021, and landed at Summit in July. division, to Summit.

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Retail Development Finance Lending 370

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.

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Loan Officers Lending Real Estate Brokerage 456

Housing Wire

AUGUST 3, 2022

The most recent layoff came on Tuesday when the California-based lender eliminated several hundred positions, including loan officers, mortgage underwriters, processors and training specialists, multiple former employees said. billion in mortgages in 2021. billion in mortgages in 2021.

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Human Resources Loan Officers Mortgage Training 414

Housing Wire

AUGUST 8, 2022

HousingWire: Given the recent news about a few non-QM lenders shutting down, some loan officers might be hesitant about working with non-QM. What would you say to those loan officers? HW: What strategies can loan officers employ to win with non-QM in the second half of 2022? Get back to basics to find it.

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Lending Loan Officers Training Investors 355

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.

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Loan Officers Development Real Estate Technology 314

Housing Wire

MARCH 24, 2023

By its own description, ChatGPT is “an AI-powered chatbot developed by OpenAI, based on the GPT (Generative Pretrained Transformer) language model. As for the “limitations,” it’s not always correct, and much data has not been updated after 2021. AI can be used to provide a more personalized experience for mortgage customers.

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Loan Officers Legal Development Marketing 470