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Top LO Tim Potempa joins E Mortgage Capital

Housing Wire

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. Potempa had a joint venture with OneTrust from March 2022 to March 2024.

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Better narrows loss in 2023, aims to reach profitability soon

Housing Wire

The digital lender made changes in its commercial operating model to achieve this goal and will continue to invest in Tinman, its proprietary technology platform. million in full year 2022. The operating model change involved Better pivoting to hiring experienced loan officers on commission-based compensation plans.

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Online lender slapped for allegedly deploying unlicensed LOs

Housing Wire

From at least August 29, 2022 to December 2, 2022, individuals who were not licensed as loan officers (LOs) in Connecticut acted as LOs by taking residential mortgage loan applications , soliciting Connecticut borrowers for mortgages and offering or negotiating terms of mortgages, according to the order issued earlier this month.

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Homebridge to lay off employees following deal with CMG

Housing Wire

A Worker Adjustment and Retraining Notification (WARN) filed with the New Jersey Department of Labor and Workforce Development shows the job cuts will affect mortgage loan officers, final “docs” associates, desktop support professionals and business solutions architects, among others. “As mortgage lender by volume last year.

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These mortgage lenders have cut jobs in 2022

Housing Wire

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. Wells Fargo , one of the nation’s largest banks, had at least 114 layoffs in its home lending business following a drop in revenue in that division in the first quarter of 2022.

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Just 16 mortgage lenders, brokers make Inc. 5000 list in 2023

Housing Wire

It’s a sharp decline from 2022, when nearly 70 mortgage lenders and brokers were named. 5000 list was VA Wholesale Mortgage , which specializes in offering home loans to veterans and active duty military members. We are doing a lot of research and development in it and artificial intelligence,” Slyusarchuk said.

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Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. in the broker channel.

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