Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% million units last month from July, according to the National Association of Realtors (NAR). Will Savage, an LO at PMC Mortgage.

Mortgage 398

Mortgage Loan Officers Buyers Inventory 398

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.

Loan Officers 365

Loan Officers Technology Investing Realtors 365

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.

Loan Officers 344

Loan Officers Retail Real Estate Agent Real Estate 344

Housing Wire

OCTOBER 12, 2023

Within mortgage companies, even those that have huge scale versus small scale, they’re offering really the same borrower experience and the same loan officer experience. Obviously, they’ve got some different systems to handle hundreds of loans a month versus thousands or tens of thousands. Well, then what?

Mortgage 392

Mortgage Technology Contracts Realtors 392

Housing Wire

MAY 8, 2024

Because of an apparent error made by staff at ICE Mortgage Technology ‘s Surefire customer relationship management (CRM) platform, more than 600,000 emails and texts were sent without permission to real estate agents, business partners and past clients of loan officers around the country.

Clients 328

Clients Real Estate Agent Technology Loan Officers 328

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures.

Mortgage 356

Mortgage Loan Officers Retail Finance 356

Housing Wire

JULY 19, 2022

However, the lenders and loan officers who will be most successful in the second half of 2022 will be those who pivot quickly, understanding both the nuances of the market and the best strategies to help solve problems for today’s homeowners, homebuyers, homesellers, Realtors and financial advisors. Generational nuances.

Mortgage 363

Mortgage Loan Officers Technology Real Estate 363

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Presented by: FormFree.

Buyers 448

Buyers Mortgage Loan Officers Retail 448

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 356

Lending Real Estate Agent Loan Officers Retail 356

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. Borrowers have called me from seeing my advertising in the stores and a couple of Realtors, too.”. trillion in 2021.

Marketing 379

Marketing Real Estate Agent Loan Officers Advertising 379

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. So more realtors in the area have started working with us. Kechian: In 2022, it was almost 90% purchase mortgages.

Marketing 346

Marketing Inventory Loan Officers Buyers 346

Housing Wire

MARCH 1, 2021

Bank Home Mortgage , will speak on a panel titled What Mortgage Tech is Solving Now at HousingWire’s Spring Summit on March 4. Bolstad will be joined on the panel by Dave Vermillion , founder and CEO of Mortgage Champions , and Lisa Patterson, chief originations officer at Homepoint.

Retail 376

Retail Lending Loan Officers Technology 376

Housing Wire

MAY 24, 2022

The servicer called one more time in June of 2021, equity was high, rates are at 2.4% Over 25 years, this one person has been a mortgage customer of six different mortgage companies, each saving him over $100 per month. For starters, there will be fewer of us — loan officers, banks, brokers. The survivors.

Mortgage 423

Mortgage Real Estate Agent Business Loan Officers 423

Housing Wire

SEPTEMBER 22, 2022

Guaranteed Rate and CrossCountry Mortgage have their eyes fixed on serving more Hispanic borrowers, who are expected to make up 70% of homeownership growth in the U.S. Chicago-based Guaranteed Rate this week rolled out an expanded Language Access Program, which has applications and loan servicing in Spanish for consumers in all 50 states.

Marketing 335

Marketing Tools Loan Officers Finance 335

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 327

Lending Loan Officers Training Investors 327

Housing Wire

JULY 1, 2021

of Black Americans bought or own their home as of the first quarter of 2021 — against 73.8% Nationwide, Redfin reported that 16% of Black Americans who apply for mortgages are rejected, compared with 7% of white Americans. of white Americans. In the lender’s direct marketing and open house materials, the models were white.

Loan Officers 475

Loan Officers Realtors Open Houses Law 475

Housing Wire

JANUARY 21, 2021

“Demand for homes remains sky high, despite the still-raging pandemic, as people look to take advantage of historically low mortgage rates and find their next home. Remarkably, most industry experts believe construction rates will climb even higher in 2021. rise with a seasonally adjusted annual rate of 1.669 million.

Construction 542

Construction Loan Officers Realtors Buyers 542

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 347

Retail Loan Officers Brokerage Technology 347

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. mortgage industry to fund $4.1

Housing Market 414

Housing Market Marketing Loan Officers Mortgage 414

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. It is possible that the 30-year fixed mortgage rate may settle down at 5.5%

Housing Market 299

Housing Market Marketing Loan Officers Buyers 299

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. In turn, LOs will be fighting for a piece of the mortgage pie with less rate-sensitive mortgage products, just as they did in 2022.

Renovations 373

Renovations Realtors Construction Mortgage 373

Housing Wire

AUGUST 7, 2023

Despite a harsh housing landscape, Rocket Companies , the parent of Rocket Mortgage , performed better than expected in the second quarter of 2022. And a larger challenge for Rocket has been proving itself as a fintech , building a funnel and growing far beyond mortgage. That share lags behind the top 50 mortgage lenders of 84.7%

Advertising 317

Advertising Clients Loan Officers Finance 317

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 254

Finance Loan Officers Lending Housing Market 254

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.

Housing Market 397

Housing Market Marketing Brokerage Real Estate 397

Housing Wire

DECEMBER 6, 2022

However, when mortgage rates started rising in the spring, Summers encouraged her clients to take advantage of the bank’s mortgage rate lock product. range, versus closing on their mortgage now when their homes are finally finished being built and rates are around 7.0%,” said Summers, a Keller Williams agent in Provo, Utah.

Real Estate 349

Real Estate Real Estate Agent Clients Agents 349

Housing Wire

FEBRUARY 8, 2022

Newport Beach, California-based Excelerate Capital , a long-time non-QM lender with a growing market presence, finalized its acquisition of Castle Mortgage Corp. 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. .

Marketing 332

Marketing Retail Lending Mortgage 332

Housing Wire

MARCH 15, 2022

Other participants included the investment arm of the National Association of Realtors , and Mauricio Umansky, a Beverly Hills real estate broker who is CEO of The Agency. Black’s blog post says that in March 2021 Knock hired Goldman Sachs to take the company public through a special purpose acquisition company, or SPAC.

Investing 357

Investing Loan Officers Real Estate Finance 357

Housing Wire

DECEMBER 15, 2021

HousingWire recently spoke to Finance of America Mortgage President Bill Dallas about viable alternative options for homebuyers and the innovative products FAM offers to meet the unique financial needs of today’s modern borrowers. Loan officers and brokers need to reconnect with past clients and show their value.

Finance 330

Finance Construction Law Inventory 330

Housing Wire

SEPTEMBER 23, 2022

Stick around and see if mortgage rates climb into the 7% range. Mortgage-backed securities are right about the worst place on the duration spectrum for this move. Mortgage-backed securities are right about the worst place on the duration spectrum for this move. .” Blake Bianchi, CEO of Future Mortgage.

Housing Market 366

Housing Market Marketing Mortgage Buyers 366

Housing Wire

FEBRUARY 11, 2021

Tai Christensen, CBC Mortgage Agency’ s director of government affairs, will join other housing luminaries to discuss how lenders can increase their diversity to impact minority homeownership at HousingWire’s Spring Summit on March 4. She also serves as an advisory council member for the American Mortgage Diversity Council.

Loan Officers 208

Loan Officers Real Estate Technology Mortgage 208

Cornerstone

JANUARY 19, 2021

These are the highlights: The expert outlook on the 2021 housing market is optimistic. Mortgage rates are expected to stay low, and increased buyer demand is anticipated to spur more home sales and keep driving up housing prices. Is there a Cornerstone office near you? What will the 2021 housing market look like?

Construction 61

Construction Housing Market Loan Officers Mortgage 61

Housing Wire

NOVEMBER 10, 2020

His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. At that point, Dodson was actively working on a jumbo loan for friends of his from church. And whether you do it or someone else does it, that loan is going to get done.” So you stop.”.

Business 423

Business Mortgage Investors Loan Officers 423

Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. That is also the case for Chris Gallo, senior loan officer at NJ Lenders Corp. After dropping from $1.2

Business 362

Business Loan Officers Clients Inventory 362

Housing Wire

APRIL 13, 2022

As a driver of the economy, housing should be bolstered by: Non-bank lending institutions to lend in lower-income areas and to minorities in the same way that CRA provides for banks Reducing government-insured and guaranteed mortgage loan fees. The need for change in current mortgage underwriting guidelines. in 2001 to 44.8%

Insurance 364

Insurance Construction Government Lending 364

Housing Wire

JUNE 7, 2021

The National Association of Realtors has been very outspoken on racism and bias as in this statement for one of the stories on the subject. “We We know discrimination is in nearly every aspect of the home buying process,” said Jessica Lautz, National Association of Realtors vice president of demographics and behavioral insights.

Appraisal Process 464

Appraisal Process Appraisal Decorating Valuation 464

Housing Wire

OCTOBER 7, 2020

“The market remains underserved in the sense that the mortgage lending market has changed so quickly that everyone is still trying to keep up,” Stone said. Decades of experience had taught him how to build an enterprise that could help move the mortgage industry into the 21st century and help rebuild the nation’s economy.

Insurance 366

Insurance Real Estate Technology Loan Officers 366

Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. It’s also what keeps Andrew Marquis, regional vice president at CrossCountry Mortgage and Scotsman Guide ’s seventh top LO, up at night, especially as he sees more buyers entering the market.

Inventory 314

Inventory Marketing Business Buyers 314