Housing Wire

JUNE 15, 2021

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending. Presented by: Sutherland.

Lending 441

Lending Loan Officers Mortgage Government 441

Housing Wire

JANUARY 26, 2023

California-based lender American Pacific Mortgage (APM) announced an asset purchase agreement with retail lender Lend Smart Mortgage on Thursday in its latest move to drum up production across the country. APM bought assets that include about 25 branches from the Minnesota retail lender Lend Smart. billion.

Lending 396

Lending Retail Loan Officers Mortgage 396

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

Eyes on Housing

MAY 5, 2021

The latest results from the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) present standards on bank lending practices as they occurred in the first quarter of 2021.

Loan Officers 174

Loan Officers Lending Real Estate 174

Housing Wire

JUNE 24, 2021

In 2021, all housing professionals must be focused on the 3 P’s: Process, Profitability and Purchase. And to help you power your business forward in 2021 and beyond we brought together the smartest minds in purchase mortgage marketing to share the insights, tactics and strategies that set the leaders apart. ALL EYES ON PURCHASE.

Loan Officers 371

Loan Officers Lending Finance Business 371

Housing Wire

FEBRUARY 20, 2024

Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.

Loan Officers 409

Loan Officers Technology Lending Tools 409

Housing Wire

APRIL 23, 2024

CJ Rose was promoted to the role of executive vice president of growth and acquisition, while Chris Hutchens was hired as producing area manager for North Carolina and senior vice president of mortgage lending. In 2021, he joined OriginPoint , a joint venture between Guaranteed Rate and leading real estate brokerage Compass.

Loan Officers 421

Loan Officers Real Estate Brokerage Business 421

Housing Wire

APRIL 30, 2024

In November 2023, Lower announced the acquisition of Colorado-based Universal Lending Home Loans , which became a separate division. Founded in Denver in 1981, Universal added 60 loan officers to Lower. In 2021, Veritex acquired a 49% stake in Thrive for $53.9 million , valuing the lender at roughly $110 million.

Retail 417

Retail Loan Officers Lending Mortgage 417

Housing Wire

JANUARY 19, 2024

“We are proud of our record and strongly deny that Patriot Bank ever avoided originating home mortgage loans in Black and Hispanic areas of the Memphis market.” The bank claims that Patriot ranked 14th out of 482 lenders in making mortgage loans in minority areas of Memphis in 2021 and 15th out of 534 lenders in 2022.

Loan Officers 452

Loan Officers Lending Advertising Home Improvement 452

Housing Wire

MARCH 25, 2024

It may be counterintuitive, but loan officer Scott Betley, a 32-year-old TikTok sensation , says he isn’t worried about a potential U.S. Betley, who has more than a decade of experience helping first-time and move-up buyers, joined NFM Lending as a loan officer in 2021. ban of the short-form video app.

Loan Officers 428

Loan Officers Tools Business Clients 428

Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. Other cases Another lawsuit recently filed by UWM was against Madison Atrina LLC , doing business as District Lending.

Contracts 441

Contracts Loan Officers Lending Retail 441

Housing Wire

SEPTEMBER 15, 2023

The company originates and markets its mortgage lending services to Anywhere’s real estate brokerage and relocation subsidiaries. 1, the company sued Kristin Bati, a former vice president of mortgage lending, in Superior Court in California for Orange County. Gifoli served as a loan officer from May 2021 to October 2021.

Loan Officers 410

Loan Officers Legal Real Estate Lending 410

Housing Wire

JANUARY 25, 2024

Connecticut Banking Commissioner Jorge Perez alleged that LoanSnap violated the Truth in Lending Act (TILA) and Fair Credit Reporting Act (FCRA). In 2021, LoanSnap secured $30 million in series B financing led by True Ventures. But the crux of the commissioner’s findings focuses on unlicensed origination activities.

Loan Officers 407

Loan Officers Mortgage Finance Lending 407

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.

Advertising 410

Advertising Lending Loan Officers Law 410

Housing Wire

OCTOBER 11, 2023

The integration of CoreLogic’s AutomatIQ Borrower Income Analysis, SmartFees and property data into the DMP interface will allow loan officers can obtain crucial information about borrowers and properties at the outset of the process, CoreLogic noted. “By It then tailors that data to the home-buying process.

Mortgage 417

Mortgage Loan Officers Technology Lending 417

Housing Wire

MAY 12, 2022

Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. The most obvious argument against a totally digital lending approach—and the one that requires the least amount of rationale—is that customers don’t want it.

Lending 367

Lending Marketing Technology Contracts 367

Housing Wire

DECEMBER 11, 2023

Loan discounts — known as pricing exceptions — is when a lender makes exceptions to its established credit standards. fair lending laws has been on regulators’ radar in recent years. CFPB’s probe into mortgage lenders The CFPB’s probe into mortgage lenders was shared back in Fall 2021. Wells Fargo paid $3.7

Mortgage 441

Mortgage Lending Law Loan Officers 441

Housing Wire

MARCH 10, 2021

Now, with 2021 leaning back to purchase-driven volume, they are positioned to accelerate that market dominance. The community lending segment has experienced impressive growth over the last 10 years. Powered by technology and fulfillment partnerships, community lenders are poised to continue their growth path in 2021.

Marketing 384

Marketing Technology Lending Business 384

Housing Wire

JANUARY 25, 2024

Jonathon Haddad, president of Next Door Lending , will replace Katie Sweeney as the chairman and CEO of the Association of Independent Mortgage Experts (AIME). Haddad joined the channel in 2020 at Next Door Lending, where he transitioned from vice president to managing partner and president. He left Rocket in the beginning of 2019.

Retail 421

Retail Lending Loan Officers Brokerage 421

Housing Wire

OCTOBER 18, 2023

Broadly speaking, the broker space tends to be more relationship focused, which lends itself better to a purchase environment. Let’s look at InGenius’s data on the number of loan officers and corresponding production levels. Since Q1 2021, the average LO has pumped out just under 16 loans per quarter at $4.8

Retail 515

Retail Loan Officers Brokerage Mortgage 515

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

FEBRUARY 15, 2024

Conventional loans account for 95% of Better’s portfolio, with the remaining 5% tied to other products such as jumbo loans. The lender’s overall production fell from $57 billion in 2021 to $11 billion in 2022. VA loans are 12% of the mortgage market,” Garg said. billion in Q3 2022. “VA

Loan Officers 407

Loan Officers Finance Mortgage Lending 407

Housing Wire

SEPTEMBER 27, 2023

In this case, the alleged redlining occurred from 2016 through at least 2021, when the bank failed to open a branch in majority-Black and Hispanic neighborhoods. Washington Trust committed to opening two new branches in majority-Black and Hispanic neighborhoods in Rhode Island, with at least two mortgage loan officers.

Advertising 431

Advertising Loan Officers Lending Training 431

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 370

Loan Officers Mortgage Real Estate Agent Real Estate 370

Housing Wire

MARCH 14, 2023

Ravi Patel, a top loan officer and former senior vice president of mortgage lending at Guaranteed Rate , and his team, have moved to UMortgage, according to a statement issued on Monday. ” While at Guaranteed Rate, Patel and his team closed more than 250 loans in 2022 and increased the purchase volume by 20% from 2021. “I’m

Loan Officers 370

Loan Officers Retail Brokerage Lending 370

Housing Wire

NOVEMBER 3, 2021

For the sixth straight quarter , eXp World Holdings , the parent company of eXp Realty , reported record breaking revenue, according to the company’s earnings report for the third quarter of 2021, released Wednesday. Year-over-year the number of agents and brokers increased 82% in Q3 2021 to 65,269. million, while net income was $23.8

Brokerage 381

Brokerage Lending Realty Agents 381

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 384

Retail Loan Officers Best Value Business 384

Housing Wire

JULY 12, 2023

You know what loan officers and real estate agents love almost as much as cashing a commission check? Complaining about other loan officers and real estate agents. In March of 2021 the mortgage industry was running at a $4.4 And they have good reasons to do so. Like, a lot more. So let’s dive in a little deeper.

Real Estate Agent 370

Real Estate Agent Real Estate Agents Loan Officers 370

Housing Wire

AUGUST 30, 2021

The DOJ also claims that bank loan officers did not serve the credit needs of majority-Black and Hispanic neighborhoods, and that Cadence’s outreach and marketing avoided minority neighborhoods. . Mortgage lending in the Houston area accounts for approximately 40% of the company’s total home mortgage business, the DOJ said.

Lending 397

Lending Loan Officers Advertising Development 397

Housing Wire

JULY 29, 2022

About 39% of 210 senior mortgage executives representing 189 lending institutions said cost-cutting was the most important agenda item, the first time that has happened since 2017, according to Fannie Mae ‘s mortgage lender sentiment survey. billion in loan origination volume in 2021.

Mortgage 384

Mortgage Loan Officers Lending Real Estate Agent 384

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 384

Retail Mortgage Loan Officers Lending 384

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 421

Mortgage Loan Officers Lending Human Resources 421

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 522

Mortgage Marketing Retail Lending 522

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 466

Loan Officers Lending Real Estate Brokerage 466

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

JANUARY 31, 2022

The nonbank mortgage lender is expanding its consumer direct lending business while some competitors are laying off employees with the expectation that the channel cools down with higher mortgage rates. PennyMac is growing fast with its consumer direct lending business. million in revenues in the third quarter 2021, 80% of the total.

Business 364

Business Lending Loan Officers Mortgage 364

Housing Wire

FEBRUARY 10, 2023

The company has 48 state licenses, three retail branches and 13 loan officers. million in 2021, but its origination volume dropped by more than 53.8% Last month, the lender hired Andy Voyles as its executive vice president and director of retail lending. The company had production volume of $148.76

Retail 370

Retail Tools Loan Officers Design 370