Housing Wire

FEBRUARY 28, 2022

The mortgage industry headed into 2022 after a strong showing in back-to-back years. 2022 still holds great opportunity for the industry but it also signals a pivot point. The company meticulously logged client feedback regarding challenges in the loan process and worked to eliminate pain points as well. “We

Technology 393

Technology Clients Business Investing 393

Housing Wire

AUGUST 8, 2022

HousingWire recently spoke with John Jeanmonod, Regional Vice President of Sales at Angel Oak, about non-QM lending and the outlook for the second half of 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.

Lending 382

Lending Loan Officers Training Investors 382

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 382

Mortgage Loan Officers Inventory Retail 382

Housing Wire

AUGUST 1, 2023

Coming off multiple quarters of financial losses , Rocket has accelerated those efforts in 2023, embarking on a remote local loan officer hiring spree designed to capture purchase market business from real estate agent connections, sources told HousingWire.

Loan Officers 370

Loan Officers Retail Real Estate Agent Real Estate 370

Housing Wire

JANUARY 19, 2023

There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. The mystery as to what happened to its loan pipeline and funding endure. Shocked employees didn’t receive their last paychecks. Strauss settled with the SEC, agreeing to pay $2.45

Mortgage 393

Mortgage Investors Legal Loan Officers 393

Housing Wire

MAY 16, 2022

Polly , a software-as-service mortgage technology firm that operates a loan-trading platform, integrated with six mortgage insurance providers to streamline the mortgage process for loan officers and mortgage lenders. .

Insurance 370

Insurance Mortgage Investors Tools 370

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 382

Mortgage Loan Officers Clients Housing Market 382

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 404

Business Loan Officers Clients Inventory 404

Housing Wire

FEBRUARY 7, 2023

The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022. of the balance of a loan being assumed would be fair to both the borrower and the servicer.” Tozer suggested “a fee of 1.3%

Mortgage 382

Mortgage Loan Officers Government Buyers 382

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. billion in annual mortgage loan volume to its platform. . The company has 1,810 loan officers and 482 branches, Modex data shows. .

Loan Officers 382

Loan Officers Retail Business Mortgage 382

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. trillion in 2022.

Lending 403

Lending Loan Officers Real Estate Mortgage 403

Housing Wire

MARCH 31, 2022

Overall, I think the consensus we’re hearing from clients is that the overall non-QM market is going to continue to grow in 2022. 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 393

Marketing Investors Technology Loan Officers 393

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. According to Black Knight , at the end of the second quarter 2022, the average U.S. and Sprout Mortgage.

Mortgage 393

Mortgage Loan Officers Finance Investors 393

Housing Wire

MARCH 2, 2023

Investors are expecting inflation to remain elevated for longer, requiring the Federal Reserve to keep increasing its policy rate. I feel like we have some people sitting on the fence again,” said one loan officer in the Portland, Oregon market. “I Applications have definitely slowed down in the last few weeks.

Mortgage 433

Mortgage Buyers Loan Officers Marketing 433

Housing Wire

FEBRUARY 10, 2023

.” While his origination volume dropped by about 55% to $378 million in 2022 from the previous year, Kechian is confident he could capitalize on the purchase market by tapping into the network he’s been building with realtors over the last year. “We We feel like we picked up more market share in 2022,” Kechian said.

Marketing 370

Marketing Inventory Loan Officers Buyers 370

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 trillion in 2022 and $2.3

Housing Market 414

Housing Market Marketing Loan Officers Mortgage 414

Housing Wire

MARCH 1, 2022

News just broke that private equity investor LLR Partners announced strategic investments in two mortgage technology companies — Mortgage Coach and Sales Boomerang ( click here for article ). With efficiency metrics and client outcomes like these it’s no surprise that the company continued to attract capital and investor interest.

Real Estate 382

Real Estate Brokerage Real Estate Agent Technology 382

Housing Wire

FEBRUARY 3, 2022

Investors have largely shunned nonbank mortgage stocks, and analysts believe the hard times are still ahead. Industry observers say the first few months of 2022 will represent a transition period to restore the supply and demand equilibrium in the mortgage industry, putting pressure on the stocks of the country’s biggest lenders. “We

Mortgage 382

Mortgage Retail Finance Investors 382

Housing Wire

JUNE 15, 2022

Investors asked for higher premiums to invest in these assets amid a flight to quality caused by the expectation of higher U.S. “Even though the market may have priced in some of the rate change already, the volatility is just requiring additional yield to be provided to investors to accommodate for the changes going on.”

Mortgage 382

Mortgage Investors Clients Marketing 382

Housing Wire

JUNE 15, 2022

The share of mortgage applications for ARMs is still below the historical average between 1990 and 2022 of 12.49% and significantly lower than the peak of 36.6% It’s important for clients to see their options between ARMs and a fixed-rate mortgage and see what the differences are, Neat Home Loans’ Johnson said.

Mortgage 370

Mortgage Bracketing Loan Officers Investors 370

Housing Wire

FEBRUARY 8, 2022

And one of our strategic plans for our growth is we’re really bolstering up our retail division in 2022.”. The goal of that push is to expand Excelerate’s overall origination volume from around $3 billion annually now to $6 billion or more in 2022, with the bulk of those originations in the non-QM space.

Marketing 370

Marketing Retail Lending Mortgage 370

Housing Wire

DECEMBER 30, 2022

Krichmar, whose $100 million-plus origination volume in 2022 consisted of 77% purchase loans, expects LOs to be working longer hours to find referral partners, trying to close loans faster than the others and diversifying their mortgage product offerings to combat an industry that shrank by more than half this year.

Renovations 404

Renovations Realtors Construction Mortgage 404

Housing Wire

APRIL 29, 2022

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Starter homes are virtually non-existent, and there are a lot of investors purchasing homes at the lower price points,” Davis said. Conway, Arkansas.

Housing Market 382

Housing Market Marketing Agents Real Estate 382

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.

Business 424

Business Mortgage Loan Officers Inventory 424

Housing Wire

DECEMBER 29, 2023

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. If they want to know what’s going on with rates, their loan, AI can give them an answer.

Mortgage 442

Mortgage Loan Officers Inventory Business 442

Housing Wire

AUGUST 9, 2023

We also sought input from industry experts, lenders and loan officers. 1 when it came to jumbo originations in 2022, with $28.7 Pontiac, Michigan-based United Wholesale Mortgage was the only nonbank on the list, in the ninth position with $7 billion in volume in 2022. billion in 2022. Who’s at the top?

Marketing 370

Marketing Retail Mortgage Investors 370

Housing Wire

JANUARY 27, 2023

Most retail lenders are desperately seeking high producing loan originators to make up for the losses that occurred in 2022. 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 393

Lending Real Estate Agent Loan Officers Retail 393

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 424

Loan Officers Mortgage Lending Real Estate Agent 424

Assurance Financial

MARCH 2, 2022

Katherine Campbell, Chief Digital Officer at Assurance Financial who won the 2020 Housing Wire Tech Trendsetter award, shares her greatest success story in mortgage process digitization to date ahead of her session at PEX Live: Digital Mortgage Process 2022.

Mortgage 36

Mortgage Loan Officers Technology Insurance 36

Housing Wire

AUGUST 23, 2023

That’s a stark contrast to what was expected at the end of 2022, when economists forecast rates to be roughly 5.5% In December 2022, the Mortgage Bankers Association (MBA) expected the 30-year fixed rate to end this year at 5.2%. to its clients. at this point. When asked why U.S.

Mortgage 370

Mortgage Loan Officers Inventory Housing Market 370

Housing Wire

JUNE 8, 2022

With interest rates hitting all-time lows, lenders doubled their origination volume to more than $4 trillion in both 2020 and 2021, hired more staff and ramped up investment in technology to close loans faster. Blend has attracted a bevy of investors who were impressed by its market position. million in the first quarter of 2022.

Mortgage 382

Mortgage Technology Loan Officers Investing 382

Housing Wire

NOVEMBER 16, 2022

By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion in loans, about half of 2021’s $4.4 In addition, Hale said he is currently working with three clients who are looking to buy IMBs — two of which are homebuilders and one he described as a “proptech/fintech” company. trillion to $1.7

Buyers 404

Buyers Mortgage Sellers Investing 404

Housing Wire

AUGUST 8, 2023

Busch is vice president and senior mortgage banker at First Savings Mortgage Corporation , a Virginia-based lender that produced $2 billion in mortgages in 2022, less than half the $4.2 The FHFA’s conforming loan limit was a baseline of $647,200 in 2022, and $726,200 in 2023.) billion in 2022, down 41.3%

Insurance 370

Insurance Mortgage Clients Lending 370

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. One of Dicker’s clients this past weekend backed out of a $295,000 houmese purchase in Michigan this past weekend. The last two years have been good to Christian Dicker.

Housing Market 433

Housing Market Marketing Brokerage Real Estate 433

Housing Wire

AUGUST 29, 2022

Ishbia is confident his firm can benefit from this trend by cutting prices for brokers and bringing more retail loan officers to its wholesale channel, whose market share currently stands at around 20%. I’m not really focused on the margins for this quarter,” Ishbia told investors in UWM’s second-quarter earnings call. “It’s

Investing 404

Investing Loan Officers Retail Mortgage 404

Housing Wire

DECEMBER 15, 2021

It also means we have to get back to the basics of building relationships with our clients and being their loan adviser for life instead of treating them as transactional customers. Loan officers and brokers need to reconnect with past clients and show their value.

Finance 393

Finance Construction Law Inventory 393

Appraisal Today

MAY 12, 2023

Fannie Mae will end up creating more instability for the trillions in the bond market – investors will have to process millions of valuations with the physical attributes of the home collected by unlicensed, uninsured, and unprepared individuals getting paid $10-$25 per inspection. The refinance share of mortgage activity increased to 28.0

Appraisal 52

Appraisal Architecture Business Contracts 52