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CrossCountry snatches top loan officer Chris Keelin

Housing Wire

Top-producing loan officer Christopher Keelin has taken his 80+person team over to CrossCountry Mortgage to “take advantage” of the lender’s technology while scaling his business. In 2022, Keelin and his team closed $827 million in volume, with Keelin originating $322 million alone. Keelin noted.

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These LOs are TikTok sensations. They call a potential ban “unfortunate”

Housing Wire

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.

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Demand for home loans climbs despite surging mortgage rates 

Housing Wire

However, a surge in demand for government loans and adjustable-rate mortgages (ARMs) played a role in last week’s increase. In addition, loan officers said that investors took advantage of a slower market. Rates for jumbo loan balances (greater than $726,200) went from 6.44% to 6.49% in the same period.

Mortgage 382
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EPM files a counterclaim against Jesse Iwuji Motorsports

Housing Wire

Equity Prime Mortgage (EPM) filed a counterclaim against Jesse Iwuji Motorsports (JIM) last week for allegedly breaching a sponsorship contract. The Atlanta-based mortgage lender is accusing the stock car racing team of breaking the agreement by changing the driver of the car starting in May 2022.

Legal 377
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Mortgage origination tech startup Vesta raises $30M

Housing Wire

The round is led by the venture capital firm Andreessen Horowitz , with participation from new investor Zigg Capital and seed investors Conversion Capital and Bain Capital Ventures. Investors backing Vesta also include Index Ventures. The platform supports approval, underwriting, closing, and funding of home loans.

Mortgage 382
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Home equity products light up a dark housing market

Housing Wire

The home equity products involved include home equity lines of credit (HELOCs), closed-end second mortgages (CESs) and shared-equity contracts. 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.

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EPM doubles down on wholesale channel, reduces retail footprint

Housing Wire

This has resulted in the company closing branches and laying off loan officers on the retail side. Meanwhile, with competitive pricing, United Wholesale Mortgage (UWM) reached an estimated 54% market share at the end of 2022. billion in 2022, with 50% through wholesale. “Wholesale is growing. in 2014. .

Retail 370