Housing Wire

JANUARY 4, 2023

Texas-based PrimeLending is suing its direct competitor , First Community Mortgage, Inc. According to a lawsuit filed on December 20 in a district court in Tennessee, First Community Mortgage, Inc. National Mortgage News first reported on the lawsuit. . FCM), for raiding its talent pool. .

Loan Officers 450

Loan Officers Contracts Mortgage Legal 450

Housing Wire

APRIL 26, 2023

Higher mortgage rates did not scare away potential homeowners last week. Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. The latest Mortgage Bankers Association (MBA) report confirms Stone’s perceptions. retail residential mortgage applications.

Mortgage 393

Mortgage Loan Officers New Listings Government 393

Housing Wire

MARCH 8, 2023

It’s counterintuitive but real: Despite surging mortgage rates , borrowers’ demand for home loans rose last week. There were very low levels of mortgage applications in the weeks prior to the surprising uptick. In addition, loan officers said that investors took advantage of a slower market.

Mortgage 382

Mortgage Loan Officers Investors Government 382

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Gifoli served as a loan officer from May 2021 to October 2021. He declined to comment on the lawsuit.

Loan Officers 404

Loan Officers Legal Real Estate Lending 404

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 423

Loan Officers Tools Business Clients 423

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. 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.

Mortgage 382

Mortgage Loan Officers Government Buyers 382

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. According to the MBA , mortgage applications decreased 9% across the board for the week ending January 27 compared to the week prior.

Mortgage 382

Mortgage Marketing Loan Officers Contracts 382

Housing Wire

FEBRUARY 11, 2022

Some mortgage rate indices topped 4% on Thursday, blowing past predictions that rates might reach those levels by the end of 2022. Other indices put mortgage rates even higher. It reported the 30-year rate for FHA-insured mortgages was even higher, at 4.122%. Randy Howell, president of Mortgage Power Inc.

Mortgage 382

Mortgage Contracts Loan Officers Insurance 382

Housing Wire

APRIL 1, 2024

In March 2022, reverse mortgage lender and servicer Longbridge Financial announced the launch of its national field sales (NFS) division , appointing reverse mortgage industry veteran Melanie Parks to lead the channel as vice president and national field sales leader. Two years later, the UPB has diminished right.

Loan Officers 413

Loan Officers Training Business Retail 413

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 414

Mortgage Loan Officers Technology Real Estate 414

Housing Wire

JANUARY 27, 2022

San Francisco-based startup Vesta, which provides a software-as-a-service platform for mortgage loan originators, announced on Thursday that it raised $30 million through a Series A funding round. The platform supports approval, underwriting, closing, and funding of home loans. The company targets the $2.6

Mortgage 382

Mortgage Investors Loan Officers Technology 382

Housing Wire

SEPTEMBER 8, 2022

Top 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees tell HousingWire. Eliminated positions included loan officers, closers, underwriters and client advocates, according to six former employees.

Mortgage 498

Mortgage Loan Officers Clients Investing 498

Housing Wire

JUNE 10, 2022

Consumer direct lender Wyndham Capital Mortgage is doing a new round of layoffs, according to a Worker Adjustment and Retraining Notification (WARN) notice filed with the North Carolina Department of Commerce. The lender originates loans in 47 states and Washington, D.C., both conventional and Ginnie Mae -backed loans.

Mortgage 393

Mortgage Loan Officers Retail Contracts 393

Housing Wire

JANUARY 30, 2023

A group of 11 former employees are accusing AmeriSave Mortgage Corp. The group also alleges that the company conducted a defamatory campaign against them after their layoffs in July 2022. It was part of the Atlanta-based mortgage lender’s strategy for developing a retail mortgage sales division. mortgage lenders.

Loan Officers 464

Loan Officers Retail Contracts Mortgage 464

Housing Wire

NOVEMBER 9, 2022

The decision to exit the forward mortgage business hit Finance of America Companies hard in the third quarter of 2022. FoA announced the shutdown of Finance of America Mortgage , its forward mortgage business, in late October, becoming the largest originator to do so this cycle. HousingWire first reported on the topic.

Mortgage 393

Mortgage Finance Retail Business 393

Housing Wire

JULY 19, 2022

Even in a downturn, the loan officer recruiting wars remain fierce. Beleaguered nonbank lender loanDepot is suing rival lender CrossCountry for allegedly dozens of poaching high-performing loan officers from its New York branches. Guild Mortgage and Caliber Home Loans have both sued CrossCountry on similar grounds.

Loan Officers 382

Loan Officers Contracts Legal Business 382

Housing Wire

FEBRUARY 13, 2023

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

Legal Contracts Lending Loan Officers 377

Housing Wire

OCTOBER 6, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage decreased four basis points last week to 6.66%, after jumping 40 basis points in the previous week, reflecting volatility due to the ongoing economic uncertainty. For jumbo loans, it went from 6.01% to 6.14% in the same period. All about the spread.

Mortgage 370

Mortgage Marketing Loan Officers Retail 370

Housing Wire

JUNE 13, 2023

Atlanta-based Equity Prime Mortgage (EPM) has decided to focus its investments on the wholesale channel amid the most challenging mortgage market in decades. This has resulted in the company closing branches and laying off loan officers on the retail side. billion in 2022, with 50% through wholesale. in 2014. .

Retail 370

Retail Loan Officers Landlords Lending 370

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 370

Mortgage Loan Officers Retail Training 370

Housing Wire

FEBRUARY 3, 2023

Mortgage lender and digital financial services company Guaranteed Rate hopes to court builders and borrowers with its newly launched programs — Lock ‘N’ Sell rate lock program and forward commitments – by helping the borrowers secure lower mortgage rates. Guaranteed Rate originated $34.38 About 71.2%

Loan Officers 370

Loan Officers Buyers Contracts Mortgage 370

Housing Wire

DECEMBER 21, 2022

Finally, CrossCountry is likely to be found liable for aiding and abetting the Individual Defendants’ contractual and fiduciary violations, as well as being responsible for tortious interference with contract.”. In July 2022, loanDepot sued the rival again for allegedly poaching high-performing loan officers from its New York branches.

Legal 404

Legal Loan Officers Contracts Business 404

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

Housing Market 414

Housing Market Marketing Contracts Finance 414

Housing Wire

JUNE 29, 2023

loanDepot is accusing its competitor Movement Mortgage of damaging its business by hiring over 25 employees in three months and “effectively crippling” “now-depleted” branches. It also accuses Movement of inducing these employees to breach contracts by soliciting others to leave loanDepot.

Retail 414

Retail Contracts Legal Business 414

Housing Wire

SEPTEMBER 7, 2023

That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. But if you’re an originator, that simply means that your target group is now smaller,” said Brian Hale, CEO of Mortgage Advisory Partners. “If The lender and LO can make or break the transaction.”

Buyers 393

Buyers Agents Loan Officers Real Estate 393

Housing Wire

AUGUST 1, 2022

Mortgage lender Guaranteed Rate Affinity is suing a divisional manager for allegedly orchestrating a “mass departure” to competitor Cardinal Financial Company , a violation of the employment agreement. including six regional managers, an executive assistant and a business development associate, the mortgage lender alleges.

Loan Officers 382

Loan Officers Mortgage Retail Contracts 382

Housing Wire

FEBRUARY 3, 2022

Investors have largely shunned nonbank mortgage stocks, and analysts believe the hard times are still ahead. Driven by a desire to achieve greater scale and gain access to cheaper capital, nonbank mortgage lenders dove headfirst into the public markets during the Covid-19 boom. How could they resist? Finance data.

Mortgage 382

Mortgage Retail Finance Investors 382

Housing Wire

JUNE 15, 2022

And it’s led to several sleepless nights for mortgage loan originators and mortgage executives. Such volatility has triggered turbulence in the mortgage market. The mortgage-backed securities (MBS) market went “no-bid” on Friday. Consequently, mortgage rates leapt like they hadn’t in decades.

Mortgage 382

Mortgage Investors Clients Marketing 382

Housing Wire

FEBRUARY 15, 2024

They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). They made good money, but with student loans and car payments, they didn’t have the money for the down payment and closing costs,” Saller said. They come in the forms of grants, second mortgages, deferred loans and forgivable loans.

Mortgage 442

Mortgage Buyers Loan Officers Sellers 442

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 302

Housing Market Marketing Loan Officers Buyers 302

Housing Wire

JUNE 2, 2023

Mat Ishbia is optimistic about the mortgage market. The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ?

Retail 370

Retail Inventory Mortgage Loan Officers 370

Housing Wire

NOVEMBER 1, 2021

If you make your living by originating new mortgage loans, I don’t have to tell you that the business is changing. You probably already know that the MBA’s latest mortgage forecast puts the purchase money at 75% of all loan volume. Real estate agents, like mortgage loan officers, work from wherever they are today.

Real Estate Agent 414

Real Estate Agent Real Estate Agents Lending 414

Housing Wire

APRIL 21, 2022

Nominations for HousingWire’s Women of Influence award are now open through Friday, April 29, 2022. As interest rates continue to climb and mortgage applications decline , many in the industry are dreading what’s to come for lenders. HW: The future of the digital mortgage and mortgage tech have been a topic of interest in recent years.

Mortgage 382

Mortgage Contracts Technology Lending 382

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. While many lenders laid off some of their staff to cut costs, others continue opening offices to capitalize on demand from homebuyers.

Mortgage 382

Mortgage Construction Lending Real Estate 382

Appraisal Today

MAY 10, 2024

New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted. Now there is, per the attached PDF HUD/FHA mortgage letter. The mortgage loan officer handling the loan?

Reconsideration of Value 69

Reconsideration of Value Appraisal Real Estate Insurance 69

Housing Wire

JULY 19, 2023

The dour housing market over the past 18 months has thrust struggling independent mortgage lenders (IMBs) into what seems like a pot of water that is coming slowly to a boil. Repurchase requests are prompted after GSE quality-review teams uncover underwriting errors in mortgages purchased by the agencies. “It

Mortgage 370

Mortgage Marketing Buyers Lending 370

Housing Wire

APRIL 13, 2022

Phishing remains the go-to attack for hackers targeting the mortgage and real estate industries. Loan officers and mortgage executives alike continue to click on links in seemingly routine emails, ultimately giving bad actors complete access to lenders’ systems and mortgage transactions.

Real Estate Agent 442

Real Estate Agent Mortgage Real Estate Agents 442