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 347

Loan Officers Retail Real Estate Agent Real Estate 347

Housing Wire

FEBRUARY 29, 2024

Mortgage lenders are offering discounts on loan pricing to capture borrowers. Mike, a North Carolina-based loan officer, had two loans closing in mid-January. The contrast between the deals was striking. “I have a loan closing today for first-time homebuyers who didn’t really press me on pricing,” he said.

Loan Officers 362

Loan Officers Mortgage Lending Real Estate Agent 362

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.

Lending 330

Lending Loan Officers Training Investors 330

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. The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan.

Lending 359

Lending Real Estate Agent Loan Officers Retail 359

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

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Business Mortgage Loan Officers Inventory 401

Housing Wire

JANUARY 19, 2023

After being sold to frequent bank investor Gaylon Lawrence in January 2019, the business name changed to Guaranty Home Mortgage Corporation. million in 2021, origination volume dropped by more than 53.8% Guaranty Home Mortgage has 48 state licenses, has three retail branches and 13 loan officers.

Retail 344

Retail Mortgage Loan Officers Lending 344

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 375

Mortgage Loan Officers Inventory Retail 375

Housing Wire

NOVEMBER 2, 2023

Non-QM borrowers such as those who are self-employed and real estate investors are generally less rate sensitive. In fact, a growing focus is the real estate investor population. with 85% owned by individual investors and LLCs based on 2021 U.S. There are currently around 19.9 million rental properties in the U.S.

Investors 373

Investors Real Estate Lending Loan Officers 373

Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As

Loan Officers 447

Loan Officers Mortgage Business Retail 447

Housing Wire

JANUARY 11, 2022

billion in 2021, nearly ten times the size of Redfin’s existing portfolio. Due to its size, Bay Equity is more efficient at originating mortgages and selling loans in the secondary market to investors, according to Redfin, which said that the acquired company had generated positive net income over the last three years.

Loan Officers 451

Loan Officers Lending Real Estate Brokerage 451

Housing Wire

OCTOBER 10, 2022

“Angel Oak Home Loans continues to serve homebuyers across the country and maintains staffing levels to meet the changing dynamics of the residential mortgage market.”. According to the mortgage data platform Modex , Angel Oak Home Loans originated a total volume of $2.44 of the volume consisted of conventional loans and 54.1%

Retail 324

Retail Loan Officers Mortgage Government 324

Housing Wire

OCTOBER 28, 2021

In 2021, Floify’s software, which streamlines the loan origination process by allowing document sharing, and communication between LOs and real estate agents, has helped over 77,000 mortgage applications close each month, according to Porch. Investors reacted positively to the acquisition, with shares increasing by 12% to $19.93

Mortgage 368

Mortgage Logistics Insurance Real Estate Agent 368

Housing Wire

NOVEMBER 10, 2022

The transaction follows Angel Oak Home Loans slashing 15% of its workforce, or 57 employees, in October. billion in volume in the last 12 months through 156 active loan officers and 39 branches, according to mortgage data platform Modex. Of the total volume, conventional loans accounted for 85.7% The lender originated $2.32

Retail 298

Retail Loan Officers Investors Lending 298

Housing Wire

OCTOBER 13, 2021

Funds managed by Oaktree Capital Management , MFA Financia l, various family offices, and other strategic investors invested through a StoicLane’s special purpose vehicle, StoicLane said. It’s also made a push to hire teachers and first responders to be loan officers. and former U.S.

Mortgage 282

Mortgage Investors Investing Technology 282

Housing Wire

APRIL 14, 2022

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. ” In fall of 2021, Chicago-based Interfirst laid off hundreds of employees. Origination volumes eclipsed $4.3

Mortgage 519

Mortgage Marketing Retail Lending 519

Housing Wire

MAY 19, 2022

Another panel participant, Shelly Griffin, senior vice president of client development at non-QM lender Deephaven Mortgage , added, “When I’m talking with loan officers, I get asked about ARMs a lot. There’s a lot of different reasons why someone falls outside the agency loans.

Loan Officers 440

Loan Officers Lending Mortgage Housing Market 440

Housing Wire

NOVEMBER 23, 2022

While it is true that many nonbanks entered this downturn with a large war chest of cash and capital, this is more than offset by the impact of warehouse and investor covenants, which are causing lenders to move expeditiously to cut costs,” Jim Cameron, Stratmor Group ’s senior partner, wrote in a report published this week. “In million.

Marketing 330

Marketing Loan Officers Business Mortgage 330

Housing Wire

MAY 11, 2021

SoftBank Group -backed digital lender Better.com plans to make its public debut in the fourth quarter of 2021 via SPAC , in a deal that would value the company at nearly $8 billion, the firm said Tuesday. Better.com originated roughly $14 billion in the first quarter of 2021, the Journal reported.

Valuation 347

Valuation Insurance Investors Loan Officers 347

Housing Wire

OCTOBER 6, 2021

Better also expects this trend to continue, telling investors in the filing that gain-on-sale levels will remain “depressed through 2021 relative to the levels of the quarter ended March 31, 2021.”. Better’s workforce of loan originators is entirely in-house and does not work on commission, a rarity in the mortgage world.

Insurance 399

Insurance Investors Real Estate Loan Officers 399

Housing Wire

JANUARY 4, 2023

The MBA estimates the 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.58% for the week ending December 30 from 6.42% in the previous week. For jumbo loans (greater than $647,200), rates remained at 6.12%. The MBA data shows that refi applications decreased 16.3% ”

Mortgage 521

Mortgage Loan Officers Insurance Investors 521

Housing Wire

JULY 7, 2022

In Portland, Oregon, for example, one loan officer noted that new listings doubled in the second half of May from 800 to 1,900 new listings. Institutional Investors. In 2021, we saw the highest rate of investor-purchased properties than ever before. Let’s start with the good news.

Inventory 390

Inventory Marketing Mortgage Supply Chain 390

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 351

Retail Loan Officers Brokerage Technology 351

Housing Wire

FEBRUARY 9, 2021

HousingWire: We’ve seen multiple predictions of non-QM lending heating up in 2021. Angel Oak made it happen thanks to our close connection with investors who trust our loans and lending standards. HW: What are you taking away from 2020 and applying to new processes in 2021? Do you agree with those predictions?

Lending 326

Lending Loan Officers Business Investors 326

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 353

Mortgage Loan Officers Retail Technology 353

Housing Wire

OCTOBER 27, 2022

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. Boise-based loan officer Blake Bianchi, founder and CEO at Future Mortgage , said he noticed an increase in clients choosing 2-1 temporary rate buydown.

Mortgage 348

Mortgage Loan Officers Clients Housing Market 348

Housing Wire

MARCH 31, 2022

Much of this volume was securitized in the 68 deals that came to market in 2021. BH: There’s no question that non-QM is more difficult to originate than conforming or government loans, so many mainstream brokers and loan officers have been reluctant in the past to offer these products.

Marketing 316

Marketing Investors Technology Loan Officers 316

Housing Wire

FEBRUARY 13, 2023

The stock car team is also accusing EPM of breaching the contract by failing to make more than $4 million in sponsorship payments following a “margin call” from its investors. They founded JIM in 2021 to compete in the Nascar Xfinity Series. The company has 13 branches with 50 active loan officers, the data shows.

Legal 268

Legal Contracts Lending Loan Officers 268

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. and Sprout Mortgage.

Mortgage 384

Mortgage Loan Officers Finance Investors 384

Housing Wire

OCTOBER 5, 2023

“This is a watershed moment for many different reasons as now these [HEAs] can start to become more of a mainstream asset class that a significant number of investors will want to participate in. billion, according to offering documents. The news is just as positive in the more traditional home equity sector of HELOCs and CESs.

Housing Market 374

Housing Market Marketing Contracts Finance 374

Housing Wire

AUGUST 23, 2023

Mortgage lenders and loan officers said they are navigating the challenging landscape by going “back to the basics,” which means offering 30-year fixed loans to borrowers with the expectation that they will be able to refinance down the road. over the 1971 – 2021 period. When asked why U.S.

Mortgage 356

Mortgage Loan Officers Inventory Housing Market 356

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 Labor Department.

Housing Market 414

Housing Market Marketing Loan Officers Mortgage 414

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 349

Marketing Inventory Loan Officers Buyers 349

Housing Wire

JANUARY 14, 2022

Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. The hiring trend at non-QM lenders stands in sharp contrast to recent layoffs at some consumer-direct lenders, which specialize in conventional refinance loans.

Lending 314

Lending Loan Officers Real Estate Mortgage 314

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

JANUARY 14, 2022

Last Friday, HomeSmart filed an “ S-1 ” with the Securities and Exchange Commission , a document that conveys HomeSmart’s intention to sell company shares to prospective investors and the public. million loss at 2021’s three quarter mark. million net loss, according to the filing. HomeSmart posted a $7.1

Brokerage 388

Brokerage Agents Real Estate Loan Officers 388

Housing Wire

NOVEMBER 22, 2022

“Over the years, we’ve been more focused on organic growth, one loan officer at a time,” said Mike Brennan, who became Movement’s president in January 2021. The company has 1,810 loan officers and 482 branches, Modex data shows. . The shrinking mortgage market is the primary reason why. .

Loan Officers 382

Loan Officers Retail Business Mortgage 382

Housing Wire

JUNE 27, 2022

Like many loan officers, Dicker was working nights and weekends, banging out refinancings and purchase mortgages at record-low rates for clients. About 40% of his business came from refis in the summer of 2021 even when his focus was on purchase mortgages his entire career. The last two years have been good to Christian Dicker.

Housing Market 400

Housing Market Marketing Brokerage Real Estate 400