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

Mortgage 367

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.

Loan Officers 362

Loan Officers Retail Real Estate Agent Real Estate 362

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.

Mortgage 400

Mortgage Training Contracts Loan Officers 400

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

SEPTEMBER 27, 2023

community bank, was accused of illegally avoiding providing mortgage services to majority Black and Hispanic neighborhoods in Rhode Island. 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.

Advertising 395

Advertising Loan Officers Lending Training 395

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

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

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

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 355

Lending Loan Officers Training Investors 355

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 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. from the first six months of 2021. “In

Human Resources 414

Human Resources Loan Officers Mortgage Training 414

Housing Wire

AUGUST 23, 2023

Guaranteed Rate , the seventh-largest mortgage lender in the country, has laid off hundreds of employees across two rounds of layoffs this month, according to former staffers who were affected. Loan officers were let go in August as well, according to former employees. billion in July, down 30% compared to the previous month.

Human Resources 284

Human Resources Loan Officers Project Management Training 284

Housing Wire

AUGUST 11, 2022

The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands. The policy change does not apply to reverse mortgages, according to Fannie Mae’s guidance for servicers. The requirement echoes a similar requirement for lenders selling loans to the GSEs.

Lending 366

Lending Finance Loan Officers Legal 366

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. According to the Mortgage Bankers Association ’s yearly forecast, purchase mortgage originations are expected to grow by 9% to $1.73

Marketing 390

Marketing Real Estate Agent Loan Officers Advertising 390

Housing Wire

MARCH 15, 2023

The AI-powered language tool has been sparking conversations about where and how it can be used to make work more efficient, and the mortgage business is no exception. The tool has been trained on millions of pages of writing dating from 2021 and earlier across the internet. ChatGPT was launched in November 2022 by OpenAI.

Tools 344

Tools Training Business Development 344

Housing Wire

SEPTEMBER 2, 2020

Cooper , a nonbank mortgage lender and servicer, announced on Wednesday the company plans to hire an additional 2,000 mortgage professionals and support staff by the end of 2020. The company is hiring for positions with multiple experience levels including loan officers, mortgage underwriters and loan processors.

Training 372

Training Loan Officers Development Mortgage 372

Housing Wire

JUNE 10, 2022

Lenders and mortgage tech companies have been cutting costs in the down market , but some firms have hired new executives who they hope will provide better strategies to navigate the shrinking loan origination market. For wemlo, his primary focus is to enhance the existing loan processing platform to improve user experience.

Marketing 383

Marketing Real Estate Agent Lending Real Estate 383

Housing Wire

OCTOBER 28, 2022

Mortgage lender Homestar Financial Corporation on Friday announced appointing Gurp Bhandal as executive vice president of national production. Prior to HOMESTAR, he served as the executive vice president of retail production at AmeriSave Mortgage Corporation and area lending manager roles at Citi.

Retail 354

Retail Training Lending Mortgage 354

Housing Wire

JANUARY 14, 2022

While layoffs sweep the mortgage industry, particularly consumer-direct lenders, non-qualified mortgage (non-QM) lenders are going on a hiring spree. Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Riches in the niches. trillion in 2022.

Lending 341

Lending Loan Officers Real Estate Mortgage 341

Housing Wire

NOVEMBER 2, 2023

HousingWire recently spoke with Mack Walker, SVP of capital markets at Deephaven Mortgage , about how the year went for the non-QM sector and what’s in store for the industry in 2024. Mack Walker: The non-QM sector is similar to other sectors in the mortgage space that endured headwinds throughout 2023 relative to volume in past years.

Investors 400

Investors Real Estate Lending Loan Officers 400

Housing Wire

APRIL 19, 2022

The raison d’etre is the same whether you work as a mortgage loan officer at a depository bank or an independent mortgage bank – originate a purchase mortgage or refinancing for a client. Federal regulations mandate that nonbank LOs take training prior to being certified.

Training 359

Training Loan Officers Lending Mortgage 359

Housing Wire

MARCH 11, 2022

Last week, Fairway Independent Mortgage Corporation announced the hiring of Tane Cabe as its new reverse business development manager with a focus on Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business. of all endorsements in 2021. Diagnosing low H4P uptake. Harlan Accola.

Business 350

Business Real Estate Agent Real Estate Loan Officers 350

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 356

Marketing Retail Lending Mortgage 356

Housing Wire

MARCH 4, 2021

2021 is already shaping up to be a vastly different year than 2020 for the mortgage and real estate industry, and it’s not only because we’re entering a purchase market. This won’t only be true for the origination side of the mortgage transaction. This won’t only be true for the origination side of the mortgage transaction.

Lending 411

Lending Law Loan Officers Clients 411

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. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

Business 416

Business Mortgage Loan Officers Inventory 416

Housing Wire

JANUARY 10, 2024

Rapidly expanding Cleveland, Ohio-based CrossCountry Mortgage (CCM) has struck a deal to acquire the smaller retail mortgage lender AmCap Home Loans and bolster its operations in Texas. billion in loans in 2023. 10, AmCap had only 43 sponsored LOs due to some having already transitioned to CCM.

Retail 359

Retail Mortgage Loan Officers Training 359

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 389

Loan Officers Mortgage Lending Real Estate Agent 389

Housing Wire

DECEMBER 20, 2022

This falls well below the landmark $1 billion he reached in 2020 and 2021. He built features that cater to realtors’ needs – such as weekly updates on the housing market, daily alerts of mortgage rates and keeping real estate agents informed of borrowers’ pre-approval status. CK: Has there been layoffs at Loan Factory as well?

Business 74

Business Retail Realtors Loan Officers 74

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 379

Lending Real Estate Agent Loan Officers Retail 379

Housing Wire

JULY 26, 2023

The Consumer Financial Protection Bureau (CFPB) found that mortgage lenders violated the Equal Credit Opportunity Act (ECOA) and its implementing rule, Regulation B, in a variety of ways, according to the most recent release of its Supervisory Highlights report.

Mortgage 360

Mortgage Loan Officers Lending Training 360

Housing Wire

JULY 25, 2023

What does the top-producing lending officer (LO) in the country have to say to other mortgage lenders? More critical than training on skills is training on having a strong mindset,” said Matt Weaver. for purchase mortgage origination, and he is taking the stage at HW Annual. Mindset is everything. 1 LO in the U.S.

Real Estate Agent 269

Real Estate Agent Mortgage Real Estate Training 269

Housing Wire

DECEMBER 11, 2023

Recent examples from the news “CFPB fines BofA $12M for failing to collect data on mortgage applicants” “The Consumer Financial Protection Bureau (CFPB) imposed a $12 million penalty on Bank of America (BofA) for violating federal laws by submitting false mortgage lending information for about four years, it announced on Monday.

Real Estate Agent 427

Real Estate Agent Real Estate Agents Lending 427

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 420

Housing Market Marketing Brokerage Real Estate 420

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 370

Insurance Real Estate Technology Loan Officers 370

Housing Wire

JUNE 7, 2021

As a candidate, Biden’s campaign said he would “establish a national standard for housing appraisals” to ensure that appraisers are adequately trained, understand the neighborhoods in which they work and “do not hold implicit biases” that influence their work. We see this in employment, from service providers, education, health care and more.

Appraisal Process 464

Appraisal Process Appraisal Decorating Valuation 464

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 378

Insurance Construction Government Lending 378

Housing Wire

NOVEMBER 5, 2020

The National Association of Mortgage Brokers inaugurated Kimber White as its new president during the virtual NAMB National 2020 conference. White is a partner at RE Financial Service and has been an active member of the mortgage industry for more than 30 years. HousingWire: What’s the biggest challenge for mortgage brokers right now?

Mortgage 450

Mortgage Loan Officers Tools Training 450