Housing Wire

APRIL 13, 2022

Enact Mortgage Insurance’s Director, Quality Assurance, Sheila Klostermann , led her team in increasing productivity by ~ 25% over the last year. The 2022 nomination period runs from April 12, 2022 through April 29, 2022 and nominees will be announced in the August issue of HousingWire Magazine.

Loan Officers 378

Loan Officers Insurance Mortgage Business 378

Housing Wire

FEBRUARY 15, 2024

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. In 2023, he closed $925 million in loan origination volume, with 1,617 loans, which put him as the top originator on Scotsman Guide ’s top originators list. “We

Realty 388

Realty Loan Officers Retail Real Estate 388

Housing Wire

JUNE 6, 2022

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.

Mortgage 414

Mortgage Loan Officers Lending Human Resources 414

Housing Wire

JANUARY 17, 2024

Did you know that in 2022, both younger and older Baby Boomers made up the largest generation of American homebuyers? As long as the buyer complies with these ongoing loan obligations, a HECM for Purchase loan doesn’t have to be repaid until a maturity event, such as when the home is sold or is no longer considered their primary residence.

Finance 449

Finance Real Estate Agent Real Estate Insurance 449

Housing Wire

JANUARY 2, 2024

“They have let branch managers and loan officers go and say they are transitioning to a broker [shop].” ” A former processor confirmed that “all staff was let go, from operations to loan officers.” Purchases comprised about 66%, conventional loans were 45% and 95% were banked loans.

Loan Officers 423

Loan Officers Lending Mortgage Insurance 423

Housing Wire

MAY 25, 2023

If we then look at data from the Federal Housing Administration (FHA), there were 2,063 Home Equity Conversion Mortgage (HECM) for Purchase loans endorsed in 2022 — less than 1/10th of 1% of homes sold last year. Few loan officers make the purchase product a main part of their business. million, of those homes.

Loan Officers 393

Loan Officers Real Estate Agent Real Estate Finance 393

Housing Wire

JANUARY 18, 2023

The brutal low origination volume and industry consolidation that occurred for lenders in 2022 isn’t expected to turn around, at least not drastically, in 2023, according to Fitch Ratings. mortgage insurance market in 2023 to deteriorate. mortgage insurance sector,” Christopher Grimes, director of Fitch Ratings, said.

Housing Market 441

Housing Market Marketing Insurance Mortgage 441

Housing Wire

JANUARY 5, 2023

After its due diligence, Sprout would send a “cleared to purchase” confirmation, which is what happened with a $7,581,712 package of loans originated from January to March 2022, according to Loan America. Loan America also claims it faced losses when forced to sell the loans to a third party to mitigate its damages.

Insurance 421

Insurance Loan Officers Mortgage Business 421

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based In 2022, only 7.6% of purchase loans that Fannie Mae closed were above 95% LTV, according to the Urban Institute.

Loan Officers 369

Loan Officers Insurance Mortgage Real Estate Agent 369

Housing Wire

OCTOBER 28, 2021

With the most recent acquisition of Floify, Porch will expand “its early access to high-intent homebuyers who need key services including insurance, warranty and moving services,” the company said in a statement.

Mortgage 393

Mortgage Logistics Insurance Real Estate Agent 393

Housing Wire

JANUARY 4, 2023

The last week of the calendar year is usually a slow time for the mortgage industry, but 2022 was something else. The MBA estimates the 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.58% for the week ending December 30 from 6.42% in the previous week. ”

Mortgage 523

Mortgage Loan Officers Insurance Investors 523

Housing Wire

SEPTEMBER 22, 2022

With the new mortgage program, customers receive loan estimates and closing disclosures in Spanish as well as a real-time digital version they can save. Mortgage Insurers points out that Hispanics are the youngest of any ethnic or racial demographic in the United States to purchase a home. billion in loans.

Marketing 369

Marketing Tools Loan Officers Finance 369

Housing Wire

NOVEMBER 18, 2022

The company’s volumes declined from more than $500 million in March 2022 to less than $100 million in October, Modex’s data shows. Workers impacted by November’s layoffs will receive severance through the end of the year, two months of health insurance and other incentives, including additional payments based on the employee’s tenure.

Loan Officers 414

Loan Officers Modernization Finance Housing Market 414

Housing Wire

NOVEMBER 10, 2022

“This creates a challenging environment for volume-sensitive businesses such as mortgage originators and title insurers.” It affected at least 50% of the staff, positions in operations and loan officers, according to multiple former employees. A massive job cut.

Mortgage 370

Mortgage Loan Officers Lending Business 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. with a start date on August 1, 2022, in Jacksonville, Florida, according to the Nationwide Multistate Licensing System (NMLS). Shocked employees didn’t receive their last paychecks.

Mortgage 393

Mortgage Investors Legal Loan Officers 393

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. The company’s average mortgage loan was about $1.45

Mortgage 368

Mortgage Loan Officers Insurance Business 368

Housing Wire

JUNE 28, 2023

Depending on their FICO scores, loan amounts and debt-to-income (DTI) ratios, borrowers have the option to choose from four available bank statement loan options. No mortgage insurance is required. All four loans require separate appraisals from two different appraisers for loan amounts over $1.5

Real Estate Agent 369

Real Estate Agent Insurance Lending Real Estate 369

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. It reported the 30-year rate for FHA-insured mortgages was even higher, at 4.122%. Economists had predicted rates would rise as the overall economy stabilized. Randy Howell, president of Mortgage Power Inc.

Mortgage 382

Mortgage Contracts Loan Officers Insurance 382

Housing Wire

APRIL 6, 2023

Strauss is returning to the industry after being accused of abruptly shutting down lender Sprout Mortgage in July 2022 without paying former employees’ salaries and severance packages. The company received a residential mortgage broker license in Illinois on November 1, 2022. It forced the executive to shut down the company.

Investors 343

Investors Mortgage Insurance Real Estate 343

Housing Wire

DECEMBER 27, 2022

Over the past 14 years, FHA has insured 9.1 trillion to first-time homebuyers, according to the agency’s most fiscal 2022 annual report to Congress on the state of its mutual mortgage insurance fund (or MMI Fund). That means regulators, market leaders, lenders, loan officers and borrowers themselves should remain vigilant.

Insurance 471

Insurance Home Value Mortgage Marketing 471

Housing Wire

JULY 12, 2023

HousingWire reported that the Sacramento-based lender instituted a round of layoffs in late November 2022, affecting 72 employees , per a document filed with the state’s Employment Development Department. Sources said the changes at Movement come after a shakeup to the sales team’s leadership.

Retail 370

Retail Development Finance Lending 370

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. In total, FoA funded $4.23

Mortgage 393

Mortgage Loan Officers Finance Investors 393

Housing Wire

MAY 7, 2023

New listing data was trending at all-time lows in 2021 abd 2022 and now it’s creating a new all-time low trend in 2023. Since the second half of 2022, after the big spike in mortgage rates , this data line hasn’t gotten much traction. 9, 2022 , with 16 positive prints versus seven negative prints, after making some holiday adjustments.

Inventory 483

Inventory Housing Market Marketing New Listings 483

Housing Wire

NOVEMBER 7, 2023

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance.

Agents 450

Agents Sellers Buyers Finance 450

Housing Wire

FEBRUARY 3, 2023

Origination volume for USAA Federal Savings Bank dropped 39% in 2022, declining to $5.17 The bank has 197 active loan officers and 12 branches across the country. The bank held at least two rounds of layoffs in 2022, according to San Antonio Express-News. It has offices in seven U.S. billion from $8.47

Real Estate 73

Real Estate Lending Human Resources Insurance 73

Housing Wire

OCTOBER 5, 2023

These [rated offerings] can start to bring in investors like insurance companies, money managers with mutual funds that have ratings constraints, investment banks … [and more], which will provide better financing on rated bonds.” billion, according to offering documents.

Housing Market 413

Housing Market Marketing Contracts Finance 413

Housing Wire

JANUARY 25, 2022

As we move forward into 2022, I believe cash will truly be king in the mortgage industry. This includes how much cash is used to fund new loans, cycle time on loans in inventory, and how fast you’re selling loans. But how that cash was conserved will dictate a company’s long-term viability.

Mortgage 368

Mortgage Inventory Business Loan Officers 368

Housing Wire

FEBRUARY 3, 2022

Executives of publicly traded nonbank mortgage lenders will instead have to sooth the fears of their investors in 2022, a consequence of the cyclical inevitability of higher rates , lower refinance volumes, and fiercer-than-ever competition, according to analysts who cover the sector. trillion in 2022, according to the trade group.

Mortgage 382

Mortgage Retail Finance Investors 382

Housing Wire

JUNE 15, 2022

The lender’s loan rates, which range from 8% to 11%, are expected to grow 100 bps by the end of the year, reflecting the Fed’s tightening policy, Nigam said. Lenders expected that 2022 will be one of the most challenging years on record due to higher rates, lower refi volumes and the need to shed capacity. trillion in 2023.

Mortgage 382

Mortgage Investors Clients Marketing 382

Housing Wire

SEPTEMBER 23, 2022

. “This creates a very challenging environment for volume-sensitive businesses such as mortgage originators and title insurers,” the analysts said. trillion in 2022 and $2.17 “Given the magnitude of the move in rates, we think there could be a downside to current estimates for industry volumes in 2023.”

Housing Market 370

Housing Market Marketing Mortgage Buyers 370

Housing Wire

APRIL 16, 2024

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. For example, Realfinity pays LOs 1.4%

Real Estate Agent 453

Real Estate Agent Loan Officers Real Estate Agents 453

Housing Wire

FEBRUARY 17, 2023

Brady Torgerson, former president of First Security Bank-West , was sentenced to two years in prison for two counts of bank fraud he conducted between 2019 and 2021 when working for the North Dakota-based bank and Union Bank as a loan officer. Three others were also sentenced in connection to the fraud.

Loan Officers 78

Loan Officers Insurance Finance Mortgage 78

Lamacchia Realty

DECEMBER 10, 2021

The Closing Disclosure (CD) , which will be sent directly to you from your attorney or title company at least 3 business days before closing, lays out in detail the final terms of your loan including monthly payments and fees. Your loan officer can go through it with you to ensure all information is accurate. Buyer Resources.

Buyers 65

Buyers Insurance Realtors Loan Officers 65

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 423

Business Mortgage Loan Officers Inventory 423

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. Written by Adam Jeffs for processexcellencenetwork.com | 2/28/22.

Mortgage 36

Mortgage Loan Officers Technology Insurance 36

Appraisal Today

MAY 10, 2024

The mortgage loan officer handling the loan? There are few bank-owned (REO) sales right now, but when they happen, they’ve been a combination of older loans and some newer ones (but not really people who bought in 2022 at peak prices). If buyers cannot get insurance or it is very expensive, it will affect value.

Reconsideration of Value 71

Reconsideration of Value Appraisal Real Estate Insurance 71

Clear Capital

JULY 13, 2023

Through this integration, Clear Capital will deliver an improved user experience for mortgage lenders and loan officers ordering products that support appraisal modernization, such as Universal Data Collection (UDC ) , Desktop appraisals and Hybrid appraisals. and/or its affiliates is located here.

Modernization 67

Modernization Technology Appraisal Mortgage 67